Richard

Sphere

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/binance-labs-embarks-on-independent-journey" rel="noopener noreferrer nofollow">Binance Labs Embarks on Independent Journey</a><br></p>
<p style="text-align: justify"><a href="https://en.bitcoinhaber.net/binance-margin-expands-offerings-with-new-fan-token-trading-pairs" rel="noopener noreferrer nofollow">Binance</a> Labs, the venture capital division of the global <a href="https://en.bitcoinhaber.net/cryptocurrency-landscape-shaken-by-interest-rate-decisions-and-major-token-developments" rel="noopener noreferrer nofollow">cryptocurrency</a> exchange Binance, has branched out to become an independent entity. This move cuts the institutional ties it had with its parent company, Binance. Bloomberg recently reported this significant shift in the relationship between Binance and its investment arm.</p>
<h2 id="strategic-realignment-in-the-crypto-sphere">Strategic Realignment in the Crypto Sphere</h2>
<p style="text-align: justify">In the midst of fluctuating cryptocurrency markets and heightened regulatory oversight, Binance has decided to separate Binance Labs from its core operations. This major strategic move was one of the critical decisions taken by Richard Teng since his appointment as the new executive chairman, following the resignation of founder Changpeng “CZ” Zhao as CEO last year. Binance Labs, which has been operational since 2018, will continue to focus on project investments, maintaining the same objectives as before.</p>
<p style="text-align: justify">A Binance Labs spokesperson clarified that the investment arm will now operate autonomously with separate contracts for its employees and distinct systems. The restructuring is said to resemble the approach undertaken by the Binance-supported <a href="https://en.bitcoinhaber.net/the-arbitrary-treatment-of-binance-reflects-the-complex-relationship-between-the-state-and-crypto-industry" rel="noopener noreferrer nofollow">BNB</a> Chain. Additionally, Binance Labs has retained the right to use the Binance trademark but will otherwise have no further corporate connections with the Binance group.</p>
<h2 id="legal-challenges-persist-for-binance">Legal Challenges Persist for Binance</h2>
<p style="text-align: justify">Amidst these organizational changes, Binance continues to confront legal challenges, including an ongoing lawsuit with the U.S. Securities and Exchange Commission (SEC). Despite efforts by Binance, Binance.US, and CZ to dismiss the SEC lawsuit, the regulatory body is seeking additional authority in various legal cases against the company. However, Judge Amy Berman Jackson recently decided not to reconsider granting additional authority or permitting new arguments in the case.</p>
<p style="text-align: justify">The separation of Binance Labs from the main Binance entity could potentially streamline operations and offer it more flexibility in the fast-evolving crypto market. Both entities are set to continue their own paths, with Binance Labs enjoying newfound independence.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/binance-labs-embarks-on-independent-journey" rel="noopener noreferrer nofollow">Binance Labs Embarks on Independent Journey</a></h5>

Binance Labs Embarks on Independent Journey

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