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Breaking: Binance Builds $500 Mln Crypto Fund Amid Bear Market

Binance, the world’s largest crypto exchange, said on Wednesday it closed a new $500 million investment fund.
The exchange said it will look into investing in blockchain, web3, and “value-building technologies” with the new fund.
The raising was conducted by Binance Labs, the exchange’s venture capital arm. Major backers for the fund include DST Global Partners, Breyer Capital, and Whampoa Group, with other investment houses acting as limited partners.
The fund will invest in companies across all stages of growth, including incubation, early-stage, and late-stage.
Binance labs has backed several major projects
Binance is no stranger to investing in crypto startups. The exchange’s venture capital arm has invested in several major upcoming crypto firms, including Axie Infinity, Polygon, Elrond, The Sandbox, and STEPN.
The goal of the newly closed investment fund is to discover and support projects and founders with the potential to build and to lead Web3 across DeFi, NFTs, gami

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