- The corporation has been on an acquisitions binge despite the severe bear market.
- So far this year, Binance has put money into 67 different projects.
According to Bloomberg, Binance CEO Changpeng Zhao said the business is prepared to spend more than $1 billion on acquisitions in 2022. More than twice as much money has been invested by the crypto behemoth so far in 2022, at $325 million. Binance had earlier announced that they have invested $200 million into the Forbes media company.
The corporation has been on an acquisitions binge despite the severe bear market. The value of cryptocurrencies like Bitcoin (ETH) and Ethereum (ETH) has dropped by almost 70%, and several significant firms, like Celsius, have gone bankrupt as a result. Nonetheless, Zhao remains confident in the market’s potential. So far this year, Binance has put money into 67 different projects.
Admiration For NFTs
In a recent interview, Zhao expressed his admiration for NFTs. The billionaire crypto investor said it was a mistake to think of digital collectibles as nothing more than photographs of monkeys. He went through some of the potential applications of the technology, including the distribution of diplomas and concert tickets. According to Zhao, Binance is considering investments in the gaming and e-commerce industries.
Binance, a major cryptocurrency exchange, has committed to helping Kazakhstan foster the steady growth of its cryptocurrency industry. The exchange and Kazakhstan’s financial authorities want to share information regarding instances of illegal activity related to the trade of digital assets.
The world’s largest crypto exchange, said Thursday that it has been granted a license to operate in Kazakhstan. With the approval of the Astana Financial Services Authority (AFSA), Binance may now provide digital asset and custody services.