Binance Founder 'CZ' Contemplates Buying a Bank

Per Bloomberg

Binance founder and CEO Zhao 'CZ' Changpeng said last month that the company could spend over $1 billion on deals this year.

The CEO said he is considering targets including banks as the distance between digital assets and traditional finance blurs. Zhao said that Binance is open to either minority investments or full acquisition.

Zhao said he noticed how banks' valuations go up instantly when working with Binance, which led to him thinking, "why don't we just invest in them as well?"