As part of the joint venture, Gulf Energy invests in Binance and BNB

Today, billionaire Sarath Ratanavadi's Thai energy company announced an investment in Binance and BNB tokens.

Gulf Energy Development Public Company Limited said in an April 18 regulatory filing that it has invested in a "series of seed preferred shares" issued by BAM, the operator of Binance, through a subsidiary. On April 6, the exchange announced a $200 million capital raise at a $4.5 billion valuation.

According to a separate filing dated April 18, Gulf Energy also invested through a subsidiary called Gulf International Investments Ltd.