The world’s largest cryptocurrency exchange by trading volume is making strategic moves to strengthen the venture capital side of its business.
In a new announcement, Binance Say Chief Marketing Officer Yi He will take over as the new head of Binance Labs, focusing on fostering the innovative growth of blockchain technology.
Yi, who co-founded Binance in 2017 with CEO Changpeng Zhao, said one of her top priorities is to support talented risk-takers.
“Part of seeing Binance grow, especially in difficult market conditions, has been being able to identify founders who have the skills and embody the values needed to thrive in a more resource-constrained environment.”
Regarding the importance of ensuring widespread adoption of Web 3.0, Yi added,
“Web3 will only truly become mainstream when its products are seamlessly integrated into users’ lives. To accelerate widespread adoption, we need to focus our resources on supporting those that will push the boundaries of Web3 technology and create solutions to real-world problems. product items.”
Binance CEO Changpeng Zhao in an interview with CNN reflect The long-term success of the company while declaring a crypto bear market is a time for investors to find opportunities at ideal prices.
“This is really the best time to invest in the industry. We did this four years ago at the bottom of the bear market, the last cycle. The results have been excellent.
We invested hundreds of millions of dollars…now our portfolio is [worth] $7 billion. So I think this is one of the best performing funds ever. “
Back in June, Binance Labs announced a new $500 million investment fund aimed at boosting the adoption of crypto assets and blockchain technologies, including Web 3.0 technologies.
Binance Labs said its portfolio consists of more than 200 projects worth $7.5 billion.
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