Binance Ventures is officially split! Binance Labs separates from Binance to become independent entity

This site (120bTC.coM): According to Bloomberg, Binance Ventures (Binance Labs) separated from Binance to become an independent entity at the beginning of this year.

Binance Labs becomes an independent entity

Binance Labs spokesperson and Binance Incubator investment director Alex Odagiu both stated that Binance Labs does not belong to Binance, but obtains its brand through Binance Authorization.

Binance Labs’ disclaimer at the bottom of the official website states: Binance Labs is an independent company, not part of the Binance Group, and does not participate in any business operated by the Binance Group (including but not limited to Binance Exchange) ). Binance Labs is licensed by Binance to use its trademarks, but has no other relationship with Binance Group.

Binance Labs Disclaimer

Binance Labs’ book value exceeds 10 billion US dollars

Binance Labs still wrote an article in January this year stating that Binance Labs is positioned as "Binance's" venture capital arm and acceleration incubator, with a valuation of US$10 billion and approximately 250 crypto companies in its portfolio, including SkyMavis, Aptos Labs, LayerZero, Polygon and The Sandbox.

CoinGecko’s research report last year pointed out that as of September 2023, Binance Labs had made a total of 177 investments, ranking ninth among its peers, on par with Pantera Capital and Digital Money Group, and slightly lower than Animoca Brands .

Coinbase Ventures was more active, making a total of 372 investments during the period.

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