Binance Labs says new AI investments will support wave of AI-powered DApps

Binance recently announced investments in decentralized artificial intelligence ecosystems Sahara AI and MyShell. 

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Binance Labs Invests in Four Web3 Projects from BNB Chain's MVB Season 7

Binance Labs has invested in four standout projects from BNB Chain's MVB Season 7, aiming to accelerate growth and innovation in the Web3 space. (Read More)

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Binance Labs Boosts Solana Restaking Ecosystem with Solayer Investment

Solayer focuses on boosting Solana's dApp security, improving network bandwidth, and prioritizing transaction inclusion while securing the Layer 1.

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BNB Chain and Binance Labs Unveil BNB Incubation Alliance to Boost Blockchain Innovation

BNB Chain and Binance Labs launch BNB Incubation Alliance to support early-stage blockchain projects with top VCs and incubators. (Read More)

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BNB Chain to support early projects with new incubation alliance

The announcement comes amid a recent surge in BNBs price, reaching a new all-time high of $717.48 on June 6.

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Binance Labs invests in Bitcoin restaking protocol BounceBit

Bitcoin DeFi is gaining traction ahead of the halving, and Binance Labs' latest investment in a BTC restaking protocol follows this trend.

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Binance Labs Wraps Up Incubation Season 6 with Strategic Investments in Seven Blockchain Startups

Binance Labs concludes its sixth incubation season, investing in seven early-stage projects across DeFi, infrastructure, and AI-powered DApps, signaling strong support for innovative Web3 solutions. (Read More)

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Binance's $10 Billion Venture Capital Unit Goes Independent: Report

The top cryptocurrency exchange Binance has spun offits venture capital arm, Binance Labs, with a valuation of $10 billion. Thismove, orchestrated under the leadership of the exchange's new CEO, RichardTeng, marks a notable shift in the company's operations.

Previously integrated into the broader Binance Group,Binance Labs will operate as an independent entity, as confirmed by aspokesperson who spoke to Bloomberg.

Binance Labs' Transition

Currently, employees at Binance Labs operate underseparate contracts in a similar setup to that at BNB Chain, a digital ledgersupported by Binance. Despite this new arrangement, Binance Labs will continueto license the Binance brand, ensuring its connection to the renownedcryptocurrency exchange.

Meanwhile, the crypto community is following thedevelopment within Binance, especially following the company's recent penalty worth $4.3 billion and the transition in its leadership.

Binance Labs is a venture capital investor and anincubator for early-stage projects. The firm's portfolio encompassesapproximately 250 projects, including notable names like Sky Mavis, Aptos Labs,and Polygon. Binance Labs boasts assets valued at over $10 billion.

Recently, Binance terminated all Nigerian naira services due to an ongoing legal dispute with the Nigerian government. This move occurredafter escalating tensions between the cryptocurrency exchange and Nigerianauthorities, who are demanding nearly $10 billion in compensation from Binanceover allegations of currency manipulation.

Economic Challenges and Regulatory Scrutiny

The legal dispute between Binance and the Nigeriangovernment escalated, with accusations of manipulation of foreign exchangerates through currency speculation and rate fixing. This disagreement led tothe cessation of all Nigerian naira-related services on Binance, affectingdeposits and withdrawals.

Nigeria, as one of the world's largest cryptocurrencymarkets, faces significant economic challenges, leading to the depreciation ofthe Nigerian naira. Regulatory scrutiny has intensified, with calls for bans oncryptocurrency platforms like Binance and KuCoin. Bayo Onanuga, an adviser toNigeria's President, has urged regulatory intervention, accusing theseplatforms of manipulating Nigeria's fiat currency.

Despite regulatory pressure and allegations, Binancedefended its market-based operations, denying any attempts to influenceNigeria's currency pricing. The standoff underscores the broader debatesurrounding cryptocurrency regulation and its implications for nationalcurrencies, reflecting the complexities of the evolving financial landscape.

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Binance Labs Quietly Transitions to Independent Entity From Binance

Binance Labs, a $10 billion venture arm, quietly split from Binance but maintains its licensing agreement to use the Binance brand.

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Binance Labs Launches Season 7 of Incubation Program for Web3 Innovators

Binance Labs invites early-stage Web3 founders to apply for Season 7 of its Incubation Program, offering tailored mentorship and resources. (Read More)

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Radiant Capital (RDNT) Spikes 8%, Could This Be the Trigger?

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Arbitrum’s 3rd Largest DeFi Protocol Scores $10M Funding From Binance Labs

Radiant is the third largest lending protocol on Arbitrum.

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Binance Labs Leads GoPlus Security Funding Round

<p class="MsoNormal">Binance Labs, the <a href="https://www.financemagnates.com/terms/a/accelerator/" target="_blank" id="0d56ced6-bc8f-406e-84e8-1908a36753ae_1" class="terms__main-term">accelerator</a> and the venture capital division of <a href="https://www.financemagnates.com/tag/binance/" target="_blank" rel="follow">Binance</a>, informed on Thursday that it has led the private round II for GoPlus Security, a Web3 security infrastructure provider. The value of the investment has not been disclosed.</p><p class="MsoNormal">According to the press release, GoPlus Security's solutions cover 13 major blockchains, offering multidimensional risk detection capabilities. It aims to broaden the Web3 environment security, focusing on tokens, NFTs, dApps and smart contracts. </p><p class="MsoNormal">Resources obtained through the private round II will allow GoPlus Security to develop its security data services and recruit industry professionals. In addition, the startup wants to launch a security marketplace. The service is scheduled to go live at the end of this year.</p><p class="MsoNormal">"Security is foundational to the ever-growing Web3 ecosystem and community. By supporting consumer-facing solutions like Goplus Security, we hope to see how security services to end users can evolve and prosper," Yi He, the Co-Founder of Binance and Head of <a href="https://www.financemagnates.com/tag/binance-labs/" target="_blank" rel="follow">Binance Labs</a>, commented.</p><p class="MsoNormal">Binance LabsBuilds a Global Portfolio</p><p class="MsoNormal">The Binance Labs project started in 2018 and has provided funding to over 100 cryptocurrency projects to date. The venture capital arm of Binance has recently <a href="https://www.financemagnates.com/cryptocurrency/binance-labs-raises-500m-to-fund-crypto-web3-projects/" target="_blank" rel="follow">secured $500 million</a> in investment funds from institutional investors, such as Whampoa Group, DTS Global Partners and Breyer Capital.</p><p class="MsoNormal">The incubator is actively using the funding raised to support more projects, especially in the Web3 industry. In September, it boosted its strategic investment in <a href="https://www.financemagnates.com/cryptocurrency/news/binance-labs-increases-strategic-investment-in-aptos-labs/" target="_blank" rel="follow">Aptos Labs</a>, a technology-driven <a href="https://www.financemagnates.com/terms/b/blockchain/" target="_blank" id="be18ed01-45fc-4044-b447-06802a10dbcd_1" class="terms__secondary-term">blockchain</a> firm focused on user security. In October, Binance Labs led the pre-seed funding round for <a href="https://www.financemagnates.com/cryptocurrency/binance-labs-invest-in-ancilla-leading-pre-seed-founding-round/" target="_blank" rel="follow">Ancilla, Inc.</a>, an automated treat detection in the blockchain space solution.</p><p class="MsoNormal">The company's latest investment is <a href="https://www.financemagnates.com/cryptocurrency/news/binance-labs-invest-in-ngrave-crypto-wallet-producer/" target="_blank" rel="follow">NGRAVE</a>, a secure hardware cryptocurrency wallet maker. NGRAVE ZERO is the only crypto wallet that has obtained the highest possible certification of security, EAL7.</p> This article was written by Damian Chmiel at www.financemagnates.com.

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Binance Labs Invest in NGRAVE Crypto Wallet Producer

<p> Binance Labs, the accelerator and the venture capital division of <a href="https://www.financemagnates.com/tag/binance/" target="_blank">Binance</a>, informed on Monday that it has invested in NGRAVE, a hardware cryptocurrency wallet maker. Additionally, the crypto exchange is leading the upcoming Series A financing round. The value of the investment has not been disclosed to the public.</p><p class="MsoNormal">According to the press release, NGRAVE was founded four years ago in Belgium and is currently offering a connectionless hardware wallet with a touch-screen dubbed ZERO. On top of that, the company is providing the LIQUID mobile app allowing users to connect with <a href="https://www.financemagnates.com/terms/b/blockchain/" target="_blank" id="be18ed01-45fc-4044-b447-06802a10dbcd_1" class="terms__main-term">blockchain</a> in real-time and GRAPHENE for safe crypto key encryption and storage.</p><p class="MsoNormal">NGRAVE ZERO is the only crypto wallet that obtained the highest possible certification of security, EAL7. The Evaluation Assurance Level (EAL1 do EAL7) has been used in IT systems and product evaluation since 1999. The higher the level, the higher the confidence that the system's security features are reliable and correctly implemented. </p><p class="MsoNormal">“Security remains one of the biggest hurdles for crypto adoption. Self-custodial wallets are one of the most secure methods for storing digital assets and through our investment in NGRAVE, we are looking to continue backing innovative startups that enhance user security,” Yi He, the Co-Founder of Binance and Head of <a href="https://www.financemagnates.com/tag/binance-labs/" target="_blank">Binance Labs</a>, commented.</p><p class="MsoNormal">Binance Labs Has Supported the Industry Since 2018</p><p class="MsoNormal">Binance decided to launch its <a href="https://www.financemagnates.com/terms/a/accelerator/" target="_blank" id="0d56ced6-bc8f-406e-84e8-1908a36753ae_2" class="terms__secondary-term">accelerator</a> program and venture capital arm in 2018. For the last four years, the institution was able to support 200 projects, 50 of which were discovered due to the Binance Labs Incubation Program.</p><p class="MsoNormal">By the numbers, Binance Labs is currently the biggest cryptocurrency venture capital in the niche, with Assets Under Management (AuM) exceeding $7.5 billion. </p><p class="MsoNormal">In November, the VC made a $4 million investment in the Web3 sports game platform dubbed <a href="https://www.financemagnates.com/cryptocurrency/binance-labs-supports-web3-gaming-invests-in-ultimate-champions/">Ultimate Champions</a>. Binance wants to support the rapidly growing Web3 gaming industry and help build a F2P fantasy sports platform.</p><p class="MsoNormal">A month earlier, Binance Labs led the pre-seed funding round for <a href="https://www.financemagnates.com/cryptocurrency/binance-labs-invest-in-ancilla-leading-pre-seed-founding-round/" target="_blank">Ancilla</a>, an automated threat detection solution in the blockchain space.</p> This article was written by Damian Chmiel at www.financemagnates.com.

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Binance Labs Supports Web3 Gaming, Invests in Ultimate Champions

<p> Binance Labs, the accelerator and venture capital arm of the <a href="https://www.financemagnates.com/terms/c/cryptocurrency-exchange/" target="_blank" id="601e2e5f-0c28-4253-9ad4-5e6b251ba2fa_1" class="terms__main-term">cryptocurrency exchange</a>, Binance, announced on Tuesday that it has made a $4 million investment in the Web3 sports game platform dubbed Ultimate Champions. </p><p class="MsoNormal">Due to the recent move, <a href="https://www.financemagnates.com/tag/binance/" target="_blank">Binance Labs</a> wants to support the Web3 gaming industry and help build a free-to-play fantasy sports platform using its blockchain technology, BNB Chain. According to the press release, Ultimate Champions will spend the obtained financing to secure the additional partnership and grow its community.</p><p class="MsoNormal">"The world of Web3 gaming is expanding, and Binance Labs is looking for Web3 gaming projects that have missions of providing real entertainment to the users rather than the ones focusing on giving out more opportunities to earn," Yi He, the Co-Founder of Binance and Head of Binance Labs, said.</p><p class="MsoNormal">The Ultimate Champions platform is currently focusing mainly on football and has partnered with 45 football clubs from Europe, including big brands like VfL Wolfsburg or <a href="https://www.financemagnates.com/tag/arsenal/" target="_blank">Arsenal FC</a>. In the future, the project's developers want to attract even more teams and expand their offerings to other sports.</p><p class="MsoNormal">Alex Odagiu, Investment Director at Binance Labs, confirms that "Web3 brings massive potential" to the gaming industry and makes it more accessible.</p><p class="MsoNormal">Web3 Transforms the Gaming Industry</p><p class="MsoNormal"><a href="https://www.financemagnates.com/terms/b/blockchain/" target="_blank" id="be18ed01-45fc-4044-b447-06802a10dbcd_2" class="terms__secondary-term">Blockchain</a> technology brings decentralization and new solutions to many industries, not just finance and investment. A great example is gaming where the <a href="https://www.financemagnates.com/cryptocurrency/how-web3-is-transforming-the-gaming-industry/">Web3 revolution</a> allows many independent studios to succeed.</p><p class="MsoNormal">"Web3 expands the appeal of making your own world and actually owning it. This concept is already built into several metaverse games on the blockchain, which focus on providing building opportunities and then lets their players create unscripted unique digital 3D venues," Konstan Dinev, the CEO of TimeShuffle, said.</p><p class="MsoNormal">Over the years, the game industry has changed its approach to financing models. Today, it is very common for games to be free, especially mobile games, with payment for in-game upgrades. The blockchain industry is now proposing a new gaming model called <a href="https://www.financemagnates.com/cryptocurrency/free-to-own-the-new-model-for-blockchain-gaming/">free-to-own</a>, which Limit Break and its DigiDaigaku NFTs were the first to offer.</p> This article was written by Damian Chmiel at www.financemagnates.com.

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Binance Labs Invest in Ancilla, Leading Pre-seed Founding Round

<p> Binance Labs, the venture capital and incubation arm of Binance, the world’s largest <a href="https://www.financemagnates.com/terms/c/cryptocurrency-exchange/" target="_blank" id="601e2e5f-0c28-4253-9ad4-5e6b251ba2fa_1" class="terms__main-term">cryptocurrency exchange</a> by trading volume, <a href="https://www.binance.com/en/blog/ecosystem/binance-labs-leads-preseed-funding-round-for-ancilla-inc-to-support-innovations-in-web3-security-6533709342019977415">announced</a> on Tuesday that it led the pre-seed funding round for Ancilla, Inc. </p><p class="MsoNormal">Ancilla was founded in 2022 and offers real-time and automated threat detection in the blockchain space and software-as-a-service (SaaS) products for better fraud prevention. The startup’s platform collects off-chain and on-chain data to monitor the protocol 24/7 and generate security alerts using machine learning technology.</p><p class="MsoNormal">The press release published by <a href="https://www.financemagnates.com/tag/binance-labs/" target="_blank">Binance Labs</a> did not disclose the invested sum but only revealed that the venture capital arm of the Binance cryptocurrency exchange led the initial funding. In June, Binance Labs secured $500 million in investment funds to support Web3 projects. Ancilla, which offers innovation in Web3 security, joined the ranks of startups that could receive support from this pool.</p><p class="MsoNormal">“We are still in the early years of the Web3 industry. To facilitate wider adoption of Web3 technology, prioritizing security and user protection are paramount. At Binance Labs, we are on the continued lookout for projects that offer innovative security solutions. Founders of these projects understand the importance of building a safe and sustainable ecosystem for users, and we are ready to support them,” Yi He, Co-Founder of Binance and Head of Binance Labs, said in a statement.</p><p class="MsoNormal">Received funds will help Ancilla build a bigger team, accelerate the development of the threat detection platform and widen the range of current use cases within the Web3 industry. The key offering of the project includes smart contract audits, malicious activity detection, fraud and hack prevention.</p><p class="MsoNormal">$500m to Fund Web3 Projects</p><p class="MsoNormal">As mentioned above, <a href="https://www.financemagnates.com/cryptocurrency/binance-labs-raises-500m-to-fund-crypto-web3-projects/">Binance Las secured $500 million in investment funds</a> a few months ago. DST Global Partners, Breyer Capital and Whampoa Group were the global institutional investors contributing to the fund. </p><p class="MsoNormal">“In a Web3 environment, the connection between values, people and economies is essential, and if these three elements come together to build an ecosystem, that will accelerate the mass adoption of the <a href="https://www.financemagnates.com/terms/b/blockchain/" target="_blank" id="be18ed01-45fc-4044-b447-06802a10dbcd_2" class="terms__secondary-term">blockchain</a> technology and crypto,” Changpeng Zhao, Binance’s Founder and Chief Executive Officer, explained in June. </p><p class="MsoNormal">Binance Labs is regularly supporting perspective crypto and Web3 companies; in June, it participated in <a href="https://www.financemagnates.com/cryptocurrency/news/binance-labs-invests-in-community-gaming/">Community Gaming’s</a>, a major esports competition platform, $16 million Series A investment round. A month earlier, it supported <a href="https://www.financemagnates.com/cryptocurrency/news/binance-labs-makes-investment-in-aptos-labs/">Aptos Labs</a>, a Layer 1 blockchain.</p> This article was written by Damian Chmiel at www.financemagnates.com.

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Binance CEO Estimates that the Firm May Spend Over $1B on Deals by the End of 2022

Changpeng Zhao, the CEO of global leading digital-asset platform Binance has announced that the firm may spend more than $1 billion on investment by the end of 2022 (Read More)

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Binance Labs to Establish a Web3 Developer Community

On September 9, Binance’s official Twitter announced that its Binance Labs is planning to build a Web3 developer community, but the specific information has not been disclosed. (Read More)

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The future of ANKR after Binance Labs makes a strategic partnership with Ankr

Ankr (ANKR/USD) is essentially a decentralized blockchain infrastructure provider that can operate an array of different nodes on a global scale across numerous Proof-of-Stake (PoS) networks.

It features an infrastructure that can help drive the growth of the crypto economy while also powering multi-chain tools available to Web3 users.

Through an official announcement on August 11, 2022, Binance said that Binance Lab has made a strategic investment in Ankr.

Binance Labs is the venture capital arm and accelerator of Binance. The funds are aimed at ramping up the work on Ankr’s remote procedure call (RPC) service whilst building out the Web3 developer suite.

Ankr was originally launched in 2017 and provides builders with streamlined access to a global network of nodes that run on 18 different blockchains. 

Ankr has previously made open-source contributions to the BNB Chain and to BNB Liquid Staking.

Furthermore, it assisted in building out BNB Chain’s core infrastructure and improved the BNB ecosystem by implementing the Ergon and Archive node upgrades alongside the BNB Application Sidechain (BAS) scalability solution.

The Erigon upgrade specifically reduced BNB Chain’s storage requirement by 75% while also increasing the RPC performance tenfold. This also led to a synchronization process that is 100 times faster. 

On August 12, 2022, Ankr (ANKR) had a value of $0.04911.

To get a better perspective as to what kind of value point this represents for the ANKR cryptocurrency, we will be going over its performance in July, as well as its all-time high value.

The all-time high for the ANKR cryptocurrency was on April 16, 2021, when it reached a value of $0.213513.

When we go over its performance throughout the previous month, Ankr (ANKR) had its lowest point of value on July 13 at $0.02519. Its highest point was on July 20 at $0.0332.

Here we can see that the cryptocurrency increased in value by $0.00801 or by 32%.

With this in mind, we can expect the ANKR cryptocurrency to reach $0.08 in value by the end of August 2022. Buying ANKR represents a solid purchase opportunity, as long as you manage your risk and stop loss.

The post The future of ANKR after Binance Labs makes a strategic partnership with Ankr appeared first on Invezz.

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PancakeSwap’s Native Token Once Surged by Nearly 10% after Binance Labs Sets Foot in Ecosystem

After Binance Labs established a strategic investment in PancakeSwap, the network’s utility and governance token, CAKE, has once soared by nearly 10%. (Read More)

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