Binance VC Spin-Off: $10 Billion Independent Fund Emerges
Key Points:
- Binance Labs, the $10 billion venture capital arm of crypto exchange Binance, has become an independent entity under CEO Richard Teng’s leadership.
- Despite becoming independent, Binance Labs will continue to focus on identifying and investing in promising projects, as it has since its creation in 2018.
According to Bloomberg, Binance has spun off its $10 billion venture arm, Binance Labs, under CEO Richard Teng. Despite Binance VC spin-off, It remains focused on investing in promising crypto projects.
Crypto exchange Binance has spun off its $10 billion venture capital arm, Binance Labs, under CEO Richard Teng’s leadership.
Impact of Binance VC Spin-Off: Crypto Investment Landscape
As an independent entity, Binance Labs has separate contracts from the main exchange and maintains some ties with the wider group, comparable to Binance-backed ledger BNB Chain.
Binance Labs Investment Director Alex Odagiu emphasized, “We’re not part of the Binance group.” This follows a major shift within Binance after a plea deal with US agencies led to a $4.3 billion penalty and the replacement of founder Changpeng Zhao as CEO.
Binance Labs is led by Yi He, a Binance co-founder, and primarily funded by the exchange’s profits. It functions as both a venture capital investor and an incubator for crypto projects, focusing on startups building on BNB Chain and others that are blockchain-agnostic.
Readmore: Bitwise Spot Bitcoin ETF Is Actively Preparing For A Wave Of Investment In Q2
Binance Labs’ Operations Unchanged Despite Spin-off
To date, Binance Labs has invested in around 250 projects, including Sky Mavis, Aptos Labs, LayerZero, Polygon, and The Sandbox, and its assets are now valued at over $10 billion on paper.
Despite the spin-off, operational independence will not significantly change Binance Labs’ operations. Its primary objective remains the identification and investment in promising projects, a goal that has been the primary focus since Binance Labs’ creation in 2018.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
Author
News
Binance VC Spin-Off: $10 Billion Independent Fund Emerges
Key Points:
- Binance Labs, the $10 billion venture capital arm of crypto exchange Binance, has become an independent entity under CEO Richard Teng’s leadership.
- Despite becoming independent, Binance Labs will continue to focus on identifying and investing in promising projects, as it has since its creation in 2018.
According to Bloomberg, Binance has spun off its $10 billion venture arm, Binance Labs, under CEO Richard Teng. Despite Binance VC spin-off, It remains focused on investing in promising crypto projects.
Crypto exchange Binance has spun off its $10 billion venture capital arm, Binance Labs, under CEO Richard Teng’s leadership.
Impact of Binance VC Spin-Off: Crypto Investment Landscape
As an independent entity, Binance Labs has separate contracts from the main exchange and maintains some ties with the wider group, comparable to Binance-backed ledger BNB Chain.
Binance Labs Investment Director Alex Odagiu emphasized, “We’re not part of the Binance group.” This follows a major shift within Binance after a plea deal with US agencies led to a $4.3 billion penalty and the replacement of founder Changpeng Zhao as CEO.
Binance Labs is led by Yi He, a Binance co-founder, and primarily funded by the exchange’s profits. It functions as both a venture capital investor and an incubator for crypto projects, focusing on startups building on BNB Chain and others that are blockchain-agnostic.
Readmore: Bitwise Spot Bitcoin ETF Is Actively Preparing For A Wave Of Investment In Q2
Binance Labs’ Operations Unchanged Despite Spin-off
To date, Binance Labs has invested in around 250 projects, including Sky Mavis, Aptos Labs, LayerZero, Polygon, and The Sandbox, and its assets are now valued at over $10 billion on paper.
Despite the spin-off, operational independence will not significantly change Binance Labs’ operations. Its primary objective remains the identification and investment in promising projects, a goal that has been the primary focus since Binance Labs’ creation in 2018.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
Other Posts
Related Posts
Latest
SafePal Telegram Wallet Launches with Swiss Bank Accounts and CeDeFi
Press Release
Ripple (XRP) And Cardano (ADA) Flash Bearish Indicators, WallitIQ (WLTQ) Flashes 6,000% Bullish Indicator
BlockDAG’s $1M Giveaway Is Live Now – Grab Your Chance Before It’s Gone, While ChainLink Holders Shift Focus as XRP Eyes Price Rally
