Crypto News – A decentralized social protocol CyberConnect has received funding from Binance Labs, Binance’s venture capital department.
CYBER Crypto Soars 30% After Binance Labs’ Investment
The $9 billion venture capital firm stated in an X post on October 25 that it is confident in social finance’s (sofi) ability to increase web3 adoption, which is why it has chosen to support the protocol.
The statement sent CYBER, the native token for CyberConnect, jumping 30% up to $6.4, according to CoinGecko, even though the financing amount was not announced.
CyberConnect, a decentralized sofi system created in 2021, is geared toward granting people control over their digital identities, content, and social interactions. CyberAccount, CyberGraph, and CyberID are the company’s three primary products.
While CyberGraph facilitates the preservation of user-generated content and eases the connection of several blockchain networks, CyberAccount aims to simplify the intricacies of gas payments across numerous networks and expedite the onboarding process for multi-chain web3 activities.