A Delaware judge ordered Musk and Twitter to complete the transaction by October 28 of this year, and Zhao’s statement suggested Binance might participate in the potential transaction.
In comparison to the $140 million committed in 2021, the exchange has so far set aside $325 million for a total of 67 projects this year, according to Bloomberg. This demonstrates Binance’s resolve to push forward with its expansion plans in 2022 despite the current bear market in cryptocurrencies.
Zhao stated that “we did look at a lot of lenders in recent months because that’s where all the issues are,” adding that he was interested in “real products that people use.”
The CEO claimed that despite the most recent problems in the cryptocurrency market, Binance has continued to be profitable.
Zhao stated that “NFTs are a lot more than just selling monkey pictures,” and he added that he thought “this technology will stay” because it could be used to issue tickets and diplomas as well as other things.
The businessman added that there is “a lot of opportunity” for mergers and acquisitions in the current market, which suggests that the upcoming months will likely open the door for more consolidation within the cryptocurrency industry.
One of Binance’s other significant plans is a planned $200 million strategic investment in Forbes, a media company. According to Zhao, the exchange is also interested in investing in gaming businesses.
