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Binance is the world’s biggest cryptocurrency exchange, handling $490 billion of spot trading volumes in March 2022.
Akio Kon | Bloomberg | Getty Images
Binance, the world’s largest cryptocurrency exchange, is launching its own venture capital fund.
The company’s venture arm, Binance Labs, said Wednesday it has raised $500 million for its debut start-up fund, securing backing from venture capital firms DST Global and Breyer Capital as well as unnamed family offices and corporations. It comes after Andreessen Horowitz last week announced a mammoth $4.5 billion fund to invest in crypto start-ups.
Binance Labs plans to use the capital to invest in companies building “Web3.” Though still an ill-defined term, Web3 loosely refers to a hypothetical future iteration of the internet that’s more decentralized than online platforms today and incorporates blockchain, the shared digital ledgers behind most major cryptocurrencies.
The launch of Binance’s new...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...