Zhao Changpeng: Binance is considering acquiring a bank

2022-11-03 07:35:00

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ChainCatcher news, Binance founder and CEO Changpeng Zhao stated in an interview with Bloomberg that he is considering acquiring banks to bridge the gap between traditional finance and the crypto world. Zhao believes that investing in banks is a wise strategy for Binance, as when cryptocurrency exchanges collaborate with banks, Binance often ends up attracting many new users, thereby increasing the bank's valuation. Zhao did not disclose any specific acquisition targets but expressed an openness to both minority stake investments and full acquisitions.

It is reported that Binance previously stated it has over $1 billion available for acquisitions and recently provided $500 million to support Musk's $44 billion acquisition of Twitter. This year, Binance's acquisition strategy has mainly focused on expanding into areas such as NFT and DeFi. (CoinDesk)

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