Binance Labs, the investment arm of the giant , introduced a $500 million fund in partnership with global investors such as DST Global Partners and Breyer Capital to drive innovation across the space , Web3 and .

Labs plans to allocate the latest $500 million fund to projects at various stages such as incubation, early-stage growth, and late-stage growth.

Talking about accelerating the adoption of the cryptocurrency ecosystem, Binance CEO Changpeng “CZ” Zhao revealed the importance of connecting values, people, and the economy:

“The goal of the newly closed investment fund is to discover and support potential projects and founders to build and lead Web3 on the Internet. , , games, , society,…".

Binance Labs was founded in 2018 and since then has invested in and incubated more than 100 projects globally. Some of the companies featured in their portfolio are 1inch, , Dune Analytics, , and The .

Before that, Binance Labs also invested 3 million USD in layer 0 of in 2018.

Binance Labs mergers and acquisitions operator, Ken Li, said that 14 projects are participating in Season 4 of the Incubator Program and they will receive their first funding from the new fund.

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Eligible startups are Grindery, NuLink Network, FilSwan and Starton from the infrastructure sector. CODA and OpenLeverage from the field . CoralApp, AlterVerse Inc, ChapterX and Gamic Guild from the gaming and . Qwestive and Reveel from the field of Social Finance. Playbux (MyCashBack) and Ambrosia Finance from the crypto fintech sector.

Several former Binance execs led funding rounds to help the multi-strategic blockchain investment fund Old Fashion Research (OFR) invest in more than 50 blockchain projects in just one year.

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