Richard

Billion

Coin

<ul class="news-points"> 
 <li>Binance separates its $10 billion venture arm, Binance Labs, from the parent firm.</li> 
 <li>Accordingly, Binance Labs staff now operate under separate contracts.</li> 
 <li>Despite the split, Binance Labs continues leveraging the brand through licensing agreements.</li> 
</ul> 
Leading crypto exchange Binance quietly <a href="https://www.bloomberg.com/news/articles/2024-03-15/crypto-exchange-binance-spins-off-binance-labs-venture-capital-unit" target="_blank" rel="nofollow">unraveled</a> its $10 billion venture capital arm earlier this year, coming within four months of Richard Teng’s appointment as the new chief executive officer of Binance. 
Binance Labs, the erstwhile venture capital division, has emerged as an autonomous entity, severing some ties with its parent group. Accordingly, Binance Labs staff now operate under separate contracts. 
Binance Labs’ Investment Director Alex Odagiu has affirmed the detachment from the parent company in a statement to Bloomberg. “We’re not part of the Binance group,” Odagiu remarked.&nbsp; 
Notably, the disclaimer note on the Binance Labs website emphasized that the venture operates independently and is not affiliated with the Binance Group. It is also not engaged in any of the businesses conducted by the Binance Group, including, but not limited to, the Binance crypto exchange. 
Meanwhile, the detached…
The post <a href="https://coinedition.com/binance-breaks-away-from-its-10-billion-venture-arm-details/">Binance Breaks Away from its $10 Billion Venture Arm: Details</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

Binance Breaks Away from its $10 Billion Venture Arm: Details

Coin Edition

发布于 2024年3月15日的其他文章

XRP Price Experiences a Dip: What’s Next?

Iconic dog photo from Dogwifhat meme coin sells at auction for $25k as NFT

Altcoin Surge: Dogecoin, Terra Luna Classic, and Others Gain Significant Market Traction

15 New upcoming Coinbase Listings in 2024

Ex-Swiss bank director discusses the future of Bitcoin ETFs after record-breaking trading day

El Salvador’s big Bitcoin move, plans millions transferred amid ATH

订阅我们免费的电子期刊，获取每日最新加密领域动态！