Binance Labs, the investment arm of the world’s largest crypto exchange Binance, has become an independent entity and severed some ties with parent crypto exchange Binance, as per a recent report by Bloomberg.
Crypto Exchange Binance Separates Binance Labs
Crypto exchange Binance made one of the notable developments in the crypto market amid the heightened regulatory scrutiny and the ongoing lawsuit against the U.S. Securities and Exchange Commission (SEC). Binance silently spin-off its $10 billion venture capital arm Binance Labs earlier this year, reported Bloomberg on March 15.
After Changpeng “CZ” Zhao stepped down as Binance CEO last year, it’s one of significant development in new chief executive officer Richard Teng’s four-month-old tenure.
“Binance Labs is an independent venture and not part of the Binance Group, nor is it involved in any of the businesses operated by the Binance Group (including but not limited to the Binance cryptocurrency exchange). Binance Labs
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