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Key Takeaways
- Binance Labs has separated from Binance Group, establishing itself as an independent venture capital fund with a portfolio worth over $10 billion.
- The firm is dedicated to investing in and supporting early-stage Web3 projects.
- Noteworthy investments include Ethena, showcasing the impact of Binance Labs’ strategic investments in the Web3 ecosystem.
Binance Labs transitions into an independent venture, distancing itself from the Binance Group.
On its official website, Binance Labs includes a notice highlighting that although it is authorized to use the Binance trademark, there are no further connections between the two organizations.
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The venture capital fund is valued at over $10 billion, boasting a staggering portfolio that spans more than 250 projects across 25 countries with a return on investment rate exceeding 14x.
The firm’s focus remains steadfast on nurturing early-stage Web3 projects, promising a blend of financial support and mentorship.
With ambitions to deepen its engagement in the Web3 domain, Binance Labs invites founders to participate in its Season 7 Incubation program, an initiative designed to foster innovation and growth in the sector.
The sixth season of its incubation program saw a highly competitive selection process, with only a 3% admission rate from hundreds of applications.
Among the beneficiaries was Ethena, a derivatives infrastructure provider that quickly rose to prominence as the highest-earning dApp in terms of daily cumulative revenue.
With a rich portfolio and a strategic focus on early-stage projects, Binance Labs is poised to be a pivotal force in shaping the future of blockchain technology and digital currency.
In other Binance-related news, the crypto exchange is involved in a legal battle with Nigerian authorities, as they demand detailed information on the platform’s top 100 users in the country.
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.
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