Crypto News- Breaking away from Binance exchange, Binance Labs emerges as an independent force in the VC world, boasting a staggering $10 billion portfolio! With investments spanning 250+ projects across 25 countries, and a remarkable 14x ROI, the future looks bright for this powerhouse.
Focusing on early-stage Web3 ventures, Binance Labs offers more than just funds—it’s a gateway to mentorship and resources within the expansive Binance ecosystem.
Binance Ends Partnership with Venture Capital Division
This move, quietly orchestrated earlier this year, signals Binance’s commitment to fostering innovation in the crypto space. Staffed separately from Binance exchange, the independent VC arm is ramping up efforts to back even more Web3 initiatives.
Founders, take note: applications for funding through Binance Labs Season 7 Incubation program are open until April 15, 2024.
Yi He, co-founder of Binance and head of Binance Labs, emphasizes their dedication to nurturing promising startups across all chains and ecosystems, fueling long-term growth in the Web3 arena.
With the previous round boasting a mere 3% acceptance rate, landing investment from Binance Labs is a testament to a project’s potential. Notable success stories like Ethena, the top-earning DApp, underscore the impact of this support.
Ethena’s USDe synthetic dollar, with its eye-popping 60.9% yield, has caused a stir in the market. Founder Guy Young clarifies the mechanics behind the impressive APY, easing investor concerns.
As Ethena continues to soar with over $1.1 billion locked in value, it’s evident that Binance Labs is not just investing—it’s shaping the future of Web3.
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