Binance Labs Investment Fund

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  • Binance Labs the Japanese firm behind one of the largest cryptocurrency exchanges Binance, has launched a new $1 billion ‘Social Impact Fund’ to help support blockchain and crypto startups

 

  • According to Coindesk, Binance will spread the $1 billion over 10 phases of $100 million each and ”…create a combination of a fund of funds (a fund that invests in other funds) and a direct fund that invests in blockchain projects.”

 

  • The launch of the new fund was announced by Head of Binance Labs – Ella Zhang

 

  • Writing on Medium, Zhang said ”Binance Labs is a social impact fund. It is an initiative to incubate, invest and empower top blockchain and cryptocurrency entrepreneurs, projects, and communities. Binance Labs is not a profit-driven fund, but an impact-driven, mission-driven and passion-driven strategic fund for the entire ecosystem, not just for Binance. Our mission is to solve problems that matter most to the ecosystem and change the world for the better.”

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