Binance Labs No Longer Under the Binance Umbrella

Binance Labs transitions into an independent venture, distancing itself from the Binance Group.

On its official website, Binance Labs includes a notice highlighting that although it is authorized to use the Binance trademark, there are no further connections between the two organizations.

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The venture capital fund is valued at over $10 billion, boasting a staggering portfolio that spans more than 250 projects across 25 countries with a return on investment rate exceeding 14x.

The firm's focus remains steadfast on nurturing early-stage Web3 projects, promising a blend of financial support and mentorship.

With ambitions to deepen its engagement in the Web3 domain, Binance Labs invites founders to participate in its Season 7 Incubation program, an initiative designed to foster innovation and growth in the sector.

The sixth season of its incubation program saw a highly competitive selection process, with only a 3% admission rate from hundreds of applications.

Among the beneficiaries was Ethena, a derivatives infrastructure provider that quickly rose to prominence as the highest-earning dApp in terms of daily cumulative revenue.

With a rich portfolio and a strategic focus on early-stage projects, Binance Labs is poised to be a pivotal force in shaping the future of blockchain technology and digital currency.

In other Binance-related news, the crypto exchange is involved in a legal battle with Nigerian authorities, as they demand detailed information on the platform's top 100 users in the country.