Binance Labs is no longer under the Binance umbrella
Key Takeaways
- Binance Labs was spun off from Binance Group and established itself as an independent venture capital fund with a portfolio of over $10 billion.
- The company is committed to investing in and supporting early-stage Web3 projects.
- Notable investments include Ethena, demonstrating the impact of Binance Labs’ strategic investments in the Web3 ecosystem.
Binance Labs turns into an independent venture. We are distancing ourselves from Binance Group.
On its official website, Binance Labs includes an announcement highlighting the following: Permission to use the Binance trademark has been granted, There is no longer any connection between the two organizations.
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Venture capital fund Worthy With an amount exceeding 10 billion dollars, I’m very proud of it portfolio Return on investment exceeds 14x across over 250 projects in 25 countries.
of the company We focus on nurturing early-stage Web3 projects. We promise a combination of financial support and mentoring.
Binance Labs with ambitions to deepen participation in the Web3 domain Founders are invited to join our Season 7 Incubation Program. It is an initiative designed to foster innovation and growth in the sector.
The sixth season of the incubation program featured a highly competitive selection process. Out of hundreds of applications, the acceptance rate is only 3%.
Among the beneficiaries was Ethena, a derivatives infrastructure provider that quickly emerged as the highest-grossing dApp in terms of daily cumulative revenue.
With a rich portfolio and strategic focus on early-stage projects, Binance Labs is poised to play a pivotal role in shaping the future of blockchain technology and digital currencies.
In other Binance-related news, the cryptocurrency exchange is engaged in a legal battle with Nigerian authorities, who are demanding detailed information on the platform’s top 100 users in the country.
With a master’s degree in Economics, Politics, and Culture in East Asia, Aaron wrote a scientific thesis analyzing the differences between Western capitalism and collective capitalism after World War II.
With nearly 10 years of experience in the fintech industry, Aaron understands all of the biggest issues and challenges cryptocurrency enthusiasts face. He is a passionate analyst with an interest in data-driven and fact-based content, as well as content targeting both Web3 native users and industry newcomers.
Aaron is the go-to guy for all things digital currency-related. With a huge passion for blockchain and Web3 education, Aaron is working to transform the space as we know it and make it more accessible to complete beginners.
Aaron has been quoted in several popular media outlets and is a published author himself. In his spare time, he enjoys researching market trends and looking for the next supernova.
