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Binance considers becoming minority investor in traditional banks to encourage crypto-friendly policies

Binance, the world's largest crypto exchange, is considering making cash investments in traditional financial institutions to encourage them to adopt pro-crypto policies. CEO Changpeng Zhao revealed that the company may become a minority investor in banks, but ruled out the possibility of acquiring a traditional finance bank due to regulatory and logistical challenges. Binance previously stated its intention to spend over $1 billion on deals in 2023, including potential bank acquisitions. Zhao also expressed concerns about the risky business models of banks.

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