2024

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Cosmos

Binance Labs, the venture capital and incubation wing of Binance, has announced a strategic investment in Babylon, an innovative Bitcoin staking protocol.&nbsp;
<a href="https://babylonchain.io/" target="_blank" rel="noopener noreferrer nofollow">Babylon</a> introduces a unique approach to staking <a href="https://crypto.news/price/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a> directly on Proof of Stake (PoS) blockchains, allowing users to earn yields without relying on intermediaries like third-party custodians, bridge technologies, or wrapping services. This method offers PoS chains slashable economic security while providing Bitcoin holders a more fluid process for unbonding stakes, thus improving liquidity.
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 We’ve invested in <a href="https://twitter.com/babylon_chain?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@babylon_chain</a>! Babylon is a blockchain project that designs security sharing protocols with a mission of scaling Bitcoin to secure the decentralized economy. Read more👇<a href="https://t.co/9f5c2vt38S" target="_blank" rel="noopener noreferrer nofollow">https://t.co/9f5c2vt38S</a>— Binance Labs Fund (@BinanceLabs) <a href="https://twitter.com/BinanceLabs/status/1762478051500175692?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">February 27, 2024</a>
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Binance Labs has recently intensified its investment activities in the staking and re-staking domains, marking a strategic pivot towards startups. It also invested in <a href="https://www.binance.com/en/blog/ecosystem/binance-labs-invests-in-puffer-to-support--the-next-generation-of-decentralized-liquid-restaking-5382326849903026647" target="_blank" rel="noopener noreferrer nofollow">Puffer Finance</a> and <a href="https://www.binance.com/en/blog/ecosystem/binance-labs-invests-in-renzo-to-support-liquid--restaking-on-the-eigenlayer-ecosystem-5456922013853091014" target="_blank" rel="noopener noreferrer nofollow">Rezo</a>, which recently became the second and fourth largest Ethereum liquid re-staking protocols, as per data from <a href="https://defillama.com/protocols/liquid%20restaking" target="_blank" rel="noopener noreferrer nofollow">DeFiLlama</a>.
Binance Labs’ investment is critical for Babylon, as the protocol is preparing for its mainnet launch before the end of 2024. This support is expected to expedite Babylon’s development efforts significantly. Babylon aspires to extend its support to other ecosystems, such as the Cosmos Hub, and unlock new possibilities in crypto staking by integrating Bitcoin into the broader PoS economy.
While the exact financial details of Binance Labs’ <a href="https://twitter.com/BinanceLabs/status/1762478051500175692" target="_blank" rel="noopener noreferrer nofollow">investment</a> remain undisclosed, several sources indicate that the figure is on par with Babylon’s previous funding rounds, which secured $18 million and $8.8 million in seed and series A financing, respectively.
Read more: <a href="https://crypto.news/crypto-whale-buys-nearly-18000-worth-of-mollars/" rel="noopener noreferrer nofollow"> Crypto whale buys nearly $18,000 worth of Mollars </a>

Binance Labs invests in PoS Bitcoin staking protocol Babylon Chain

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