• Bitcoin
  • NFT
  • Binance
  • ETH
  • DeFi
  • Metaverse
  • IDO
  • Coinbase
  • Solana
  • ETF
  • FTX
  • GameFi
Newsletter
  • Home
  • Crypto News
  • Market
  • Learn
No Result
View All Result
  • Home
  • Crypto News
  • Market
  • Learn
No Result
View All Result
CoinLive
No Result
View All Result
Home Crypto News

Binance Labs returned the revenue it raised to make a $500 million fund

189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

This is also the to start with time that Binance Labs has raised capital from outdoors traders, but it is unclear why this unit returned the vast majority of the revenue.

Binance Labs returned the revenue it raised to make a $500 million fund. Photo: Binance

Related articles

Hong Kong cryptocurrency exchange Hounax scammed users out of $15.4 million

Hong Kong cryptocurrency exchange Hounax scammed consumers out of $15.four million

November 27, 2023
New CEO Richard Teng wants to turn Binance into "a normal financial company"

New CEO Richard Teng desires to flip Binance into “a normal financial company”

November 27, 2023

Binance LabsThe $9 billion venture capital fund of the cryptocurrency exchange of the very same title has returned revenue to traders who financed the exchange’s Web3 advancement fund.

In June 2022, Binance Labs announced has launched a personal investment fund really worth $500 million, dubbed “Binance Labs Fund II,” ambitiously pushing into web3. While Binance nevertheless contributes the vast majority of this price range, this is also the to start with time that Binance has requested external capital, with help from DST Global, Breyer Capital, and a number of other unnamed businesses and companies.

Close sources have uncovered this so far The block, Binance Labs returned half of its investment capital, roughly $150 million, to traders as of the 2nd quarter of this 12 months. They also informed that the over capital has not but been allotted to any startup.

Binance Labs is a home title in the cryptocurrency industry, with assets steadily increasing from $seven.five billion to $9 billion following the collapse of FTX. Binance’s investment arm has supported much more than 200 tasks and earned paper revenue much more than ten instances what it invested. Recently, Binance Labs has also routinely participated in capital raising rounds of cryptocurrency businesses, this kind of as Sleek, CyberConnect, Arkham Intelligence, Neutrons, Radiant capital, Helio protocol, Delphinus Laboratory, Pendle Finance, Initiation…

Starting in April this 12 months, there have been indications that Binance Labs was progressively exiting the US industry. And given that then, the legal storm has more and more impacted mother or father enterprise Binance.

Binance Labs is at present led by Yi He, who co-founded Binance collectively with former CEO Changpeng Zhao. The fund has noticed many personnel alterations of late, with the departure of two senior executives, Bill Qian and Nicole Zhang, not to mention turmoil inside of its mother or father enterprise and personal US subsidiary. Yibo Ling, who held the place of Chief Business Officer of Binance, also resigned.

This morning (November 22), Binance co-founder and CEO Changpeng Zhao announced his resignation and agreed to shell out a $four.three billion fine to the U.S. government to finish a many years-prolonged criminal investigation. The former Binance CEO pleaded guilty, agreed to shell out a $50 million fine and faces an 18-month prison sentence. Additionally, CZ is banned from holding a management place at Binance for the following three many years, but continues to be a important shareholder of the exchange.

Richard Teng was named as CZ’s successor, starting to be the exchange’s new CEO. Binance also mentioned this Ready for the potential of “new wine in old bottles” with Richard above the following 50 many years.

Coinlive compiled

Maybe you are interested:

Join the discussion on the hottest difficulties in the DeFi industry in the chat group Coinlive Chats Let’s join the administrators of Coinlive!!

Tags: BinanceBinance LabscreatefundLabsmillionmoneyRaisedreturned
Share76Tweet47

Related Posts

Coinbase CEO Emphasizes Urgent Need for Cryptocurrency

by shark
June 22, 2025
0

Coinbase CEO Brian Armstrong stresses the world's growing need for crypto given rising debt and inflation.

Norway Plans Temporary Ban on Crypto Mining by 2025

by shark
June 22, 2025
0

Norway to impose a temporary ban on new energy-intensive crypto mining operations starting in autumn 2025, focusing on energy conservation...

Tether CEO Introduces PearPass for Enhanced Security

by shark
June 22, 2025
0

Tether's CEO Paolo Ardoino unveils PearPass, a local password manager aimed at improving security after major data breaches.

Aptos, Solana Selected for Wyoming Stablecoin Project

by shark
June 22, 2025
0

The Wyoming Stable Token Commission has selected Aptos and Solana as core platforms for the state-backed stablecoin, impacting blockchain adoption...

TikTok Denies Alleged $300M TRUMP Token Bribe

by shark
June 22, 2025
0

TikTok refutes accusations of purchasing $300M TRUMP tokens as a bribe to Trump, amid ongoing scrutiny.

Load More

Tags

analysis announces Bank billion Binance Bitcoin Blockchain BTC CEO Coin Coinbase Crypto cryptocurrencies Cryptocurrency DeFi ETH Ethereum Exchange Finance FTX fund game General News Information Investment Latest Launch launches market Metaverse million Network News NFT platform Price project Protocol Review SEC Solana Token trading users wallet

Recent Posts

  • Coinbase CEO Emphasizes Urgent Need for Cryptocurrency
  • Norway Plans Temporary Ban on Crypto Mining by 2025
  • Tether CEO Introduces PearPass for Enhanced Security
  • Aptos, Solana Selected for Wyoming Stablecoin Project
  • TikTok Denies Alleged $300M TRUMP Token Bribe
  • Ethereum’s Institutional Interest and Potential 2025 Market Growth
  • Fed Holds Rates as Bitcoin Stabilizes Amid Global Tensions
  • Coinbase Secures Pan-EU MiCA License from Luxembourg
  • About
  • FAQ
  • Contact Us
  • IGO
  • Altcoin
  • Terra
  • Launchpad
  • P2E
  • META
  • AXS
Email us: [email protected]

© 2021 CoinLive - Crypto News 24/7

No Result
View All Result
  • Home
  • Crypto News
  • Market Analysis
  • Learn

© 2021 CoinLive - Crypto News 24/7