Binance Labs Leads Funding Round For Web3 Security

Despite an increasingly bleak crypto winter as a result of FTX’s demise, investors’ enthusiasm in Web3 has not decreased, and the positive sign comes from Binance Labs.

Binance Labs, has announced that it would lead a fundraising round for GoPlus Security. The size of this investment round has yet to be revealed. Binance’s investment is targeted at generating safe data, creating a marketplace for security services, and recruiting Web security personnel 3.

Go Plus Security plans to use the funds to launch the security services market by the end of 2022, according to the official blog post.

Currently, the startup secures data for 13 chains.

“Security is the cornerstone that allows the Web3 community and ecosystem develop,” stated Yi He, Binance Co-Founder and Director of Binance Labs. We anticipate that by investing in projects such as Goplus Security, we will witness continued growth of security services for users.”

The move comes only days after Binance CEO Changpeng Zhao (CZ) declared that he will invest and purchase good projects with his $1 billion reserve.

According to a recent report, the exchange has invested over $325 million in 67 projects this year alone, and spent over $140 million on 73 projects in 2021.

The Labs announced a $500 million fund earlier this year to assist Web 3 technologies and entrepreneurs. Furthermore, the platform continues to target e-commerce and traditional gaming companies for investment.

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