Binance CEO revamps its $7,500,000,000 VC arm and says now is the best time to invest in crypto

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 says Chief Marketing Officer Yi He will assume the new leadership of Binance Labs to focus on driving the innovative growth of blockchain technology.

Yi, who co-founded Binance with CEO Changpeng Zhao in 2017, says one of her priorities will be supporting talented risk-takers.

“Part of the way we’ve seen Binance grow, especially under difficult market conditions, has been the ability to identify those founders who have the skills and embody the values ​​needed to thrive in a more limited resource environment. “

Regarding the importance of widespread adoption of Web 3.0, Yi adds:

“Web3 will only truly become mainstream if its products fit seamlessly into users’ lives. To accelerate widespread adoption, we must focus our resources on supporting projects that push the boundaries of Web3 technology and develop products that provide solutions to real-world problems.”

In an interview with CNN, Binance CEO Changpeng Zhao reflected on the company’s long-term success, stating that investors find opportunities at ideal prices in crypto bear markets.

“This really is the best time to invest in the industry. We did this four years ago during the bottom of the bear market, the last cycle. It worked fantastically.

We’ve invested a few hundred million dollars… and now this is our portfolio [worth] 7 billion dollars. This is one of the best performing funds of all time in my opinion.”

Back in June, Binance Labs announced a new $500 million investment fund aimed at boosting the adoption of crypto assets and blockchain technology, including Web 3.0 technologies.

According to Binance Labs, its portfolio includes more than 200 projects valued at $7.5 billion.


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