Bitcoin
$37,674.61-0.17%
Ethereum
$2,053.23+1.43%
Binance Coin
$227.16+0.79%
XRP
$0.60509355-0.13%
Solana
$59.01-0.05%
Cardano
$0.37495980-1.33%
Dogecoin
$0.08238845+1.96%
Tron
$0.11243102+3.86%
Toncoin
$2.39-1.80%
Chainlink
$14.33-0.70%
Avalanche
$21.15+1.59%
Polkadot
$5.40+5.57%
PlayIconNav
Crypto Prices CoinDesk Market Index CoinDesk Market Index
Markets

Binance Makes Strategic Investment in Chinese Crypto Media Firm

Cryptocurrency exchange Binance has made an undisclosed investment in Chinese media and data source Mars Finance.

By Daniel Palmer
AccessTimeIconSep 17, 2019 at 9:33 a.m. UTC
Updated Sep 13, 2021 at 11:27 a.m. UTC
Changpeng Zhao Binance

Binance CEO Changpeng Zhao

10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Update (10:47 UTC, Sept. 17, 2019): Added comment from Changpeng Zhao, CEO of Binance.

Cryptocurrency exchange Binance, the world's largest by trading volume, has made a strategic investment in Chinese media and data source Mars Finance.

According to a report from Bloomberg citing a press release, the investment amount was not disclosed, but values the company at $200 million.

Aside from Binance, which reportedly made its first strategic investment in China with the round, Beijing-based Mars Finance was also backed by Ceyuan Ventures and Matrixport, a financial services startup founded by co-founder of bitcoin mining firm Bitmain, Jihan Wu.

Discussing the investment, Binance CEO Changpeng Zhao said:

“We have large respect for data, news and research firms which support the positive growth of the blockchain industry. We will continue to pursue strategic investment opportunities in our mission to bring crypto further mainstream, increase adoption and accessibility, and help the industry grow sustainably.”

The media site was founded by tech entrepreneur Wang Feng in 2018, Bloomberg says, and has previously raised two funding rounds from investors including IDG Capital and the venture subsidiaries of OKCoin and Huobi.

The firm's website indicates it also offers market reports and a VC fund called Consensus Lab (no relation to CoinDesk Consensus).

The news comes as Binance's new U.S. platform prepares to onboard customers in preparation for live trading.

Binance.US said last week that it will open registration and deposits Wednesday, Sept. 18, after which it will roll out a number of Binance products across the U.S.

Changpeng Zhao image courtesy of Binance

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.