Binance Makes First Investment in China in Crypto Media Firm Valued at $200 Million

Francisco Memoria

Binance, one of the top cryptocurrency exchanges in the world, has made its first strategic investment in China, in a cryptocurrency media firm that was valued at $200 million.

According to Bloomberg, the crypto media startup, Mars Finance, saw Binance invest in it, along with Ceyuan Ventures and Matrixport, a financial services startup co-founded by Bitmain’s co-founder Jihan Wu.

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While Mars finance didn’t disclose the funding amount, the company’s valuation at the end of the round was reportedly of $200 million. The firm had already raised funds from investors that included OKCoin and Huobi’s venture arms, as well as IDG Capital.

This means that Mars Finance has received funding from three major cryptocurrency exchanges: OKEx, Huobi, and Binance.

Featured image via Pixabay.com.