Binance Labs Allegedly Invested in 21 of 30 Binance Launchpool Projects
Binance Labs actively identifies and invests in promising blockchain projects; recent data reveals a significant focus on token launches by Binance-backed projects.
The WuBlockchain team identified ten projects invested by Binance that are likely to issue tokens in the second half of 2024. This list includes names like Babylon, Xterio, Movement, Tabi, Puffer, Solv, Zest, Zircuit, StakeStone, and Lorenzo. The sheer number of these projects, coupled with Binance’s established influence, suggests a wave of token launches is on the horizon.
Additionally, further analysis highlights the depth of Binance’s commitment to the Web3 space. According to WuBlockchain, out of the nearly 30 projects featured on Binance Launchpool, a platform that allows users to earn tokens through staking, it backs a staggering 21.
This signifies a strategic alignment between Binance’s investment arm and its launchpad, emphasizing the exchange’s role in nurturing and promoting promising projects.
Binance Labs Investment in New Token’s Project
The presence of Binance’s investment in these projects serves as a signal of credibility and legitimacy. It signifies that Binance, with its extensive experience and industry expertise, sees potential in these projects and believes they are likely to contribute meaningfully to the Web3 ecosystem.
However, the exact nature and timing of these token launches is unknown; the number of projects backed by Binance hints at a period of significant activity in the crypto market. Nonetheless, this influx of new tokens could provide investors with a diverse range of opportunities while simultaneously contributing to the overall growth and
Final Agreement for Sale of its Majority Gopaz Stake
Binance, the world’s largest cryptocurrency exchange by trading volume, is in the final stage of negotiations with the South Korean cloud service provider Megazone to sell most of its Gopaz shares, according to the local news outlet Chosun reportsnBiz.
The cryptocurrency exchange aims to reduce its Gopaz shares from 72.6% to as low as 10% due to regulatory concerns. In February 2023, Binance took over Gopaz when the exchange’s debt soared to approximately 56 billion won due to the downfall of the FTX derivative exchange affiliated with Genesis Global Capital. As part of the deal, the global crypto exchange agreed to address the platform’s liquidity issues in exchange for about 72% of Gopaz’s stakes.
