Search company, investor...

Predict your next investment

Corporate Venture
labs.binance.com

Investments

104

Funds

2

Partners & Customers

10

About Binance Labs

Binance Labs is the venture capital and incubation arm of Binance. It identifies, invests in, and empowers viable blockchain entrepreneurs, startups, and communities, providing financing to industry projects that help grow the wider blockchain ecosystem.

Headquarters Location

San Francisco, California,

United States

Want to inform investors similar to Binance Labs about your company?

Submit your Analyst Briefing to get in front of investors, customers, and partners on CB Insights’ platform.

Research containing Binance Labs

Get data-driven expert analysis from the CB Insights Intelligence Unit.

CB Insights Intelligence Analysts have mentioned Binance Labs in 1 CB Insights research brief, most recently on Jan 10, 2023.

Latest Binance Labs News

Bithumb in turmoil, Binance’s 47K law requests, Axie players down … – Cointelegraph

Jan 27, 2023

Bithumb in turmoil  On Jan. 25, Yonhap Infomax reported that South Korean authorities had requested an arrest warrant for Kang Jong-Hyun, chairman and owner of cryptocurrency exchange Bithumb, over embezzlement allegations. That same day, the Financial Investigation Second Division of the Seoul Southern District Prosecutor’s Office accused Jong-Hyun and two Bithumb executives of embezzlement, conducting fraudulent transactions and breach of trust. A leaked photo of Bithumb chairman Kang Jong-Hyun. Source: Korea Post English Authorities said that Kang played a key role in manipulating the stock prices of Bithumb affiliates Inbiogen and Bucket Studio through the issuance of convertible bonds. Bithumb is one of the largest cryptocurrency exchanges in South Korea . Its previous chairman, Lee Jung-Hoon, was found not guilty last month of a $70 million fraud charge related to his activities at Bithumb. Park Mo, Bithumb’s former largest shareholder, died on Dec. 30 while under investigation for allegedly embezzling funds from Bithumb and related companies. The firm is also currently probed by the National Tax Service over tax compliance incidents. Binance’s 2022 annual report In its annual report released on Jan. 19, cryptocurrency exchange Binance revealed that the firm received more than 47,000 law enforcement inquiries throughout the year. The exchange said such requests were processed “at a record time” and that it was the first among blockchain firms to join the National Cyber-Forensics and Training Alliance, a nonprofit cybercrime fighting unit based in Pittsburg. In response to the inquiries, Binance said it increased the headcount of its security team by more than 500% and hosted 70 law enforcement workshops around the globe in 2022 to help fight blockchain-related financial crime. In the event of security incidents, Binance also stated it would tap into funds from its $1 billion SAFU (Secure Asset Fund for Users) user insurance program to compensate for losses. The exchange also tightened requirements such as NFT listings. Starting Feb. 2, Binance will delist all NFTs listed before Oct. 2 that had an average daily trading volume of less than $1,000 between Nov. 1 and Jan. 31. In January 2022, we announced that SAFU was worth $1B. Due to market conditions in 2022, that value dropped to $735m. As of November 2022, we topped the SAFU balance back to $1B. We made a promise to our users, along with the larger crypto ecosystem, that SAFU would always maintain a sizable level. The exchange received 14 licenses and regulatory registrations in 2022. Other highlights include its $1 billion pledge for an industry recovery fund amid FTX’s collapse and investing $500 million into Web3 and blockchain firms through Binance Labs. Although it does not have a fixed corporate office, the exchange’s governing jurisdiction is the Hong Kong International Arbitration Center for legal disputes. Its servers are also reportedly located in Japan. Jurisdictions where Binance received regulatory clearance in 2022. Source: Binance Axie Infinity’s declining numbers  The latest data from the website Active Player reveals that the number of players of the popular monster battle P2E game Axie Infinity, developed by Vietnamese gaming studio Sky Mavis, fell to 432,001 in the past month. This represents the lowest level seen since November and means the game has lost approximately 85% of its player base over the past year. Axie Infinity’s popularity has dwindled in recent months. Source: Active Player Initially a groundbreaking GameFi success , Axie Infinity has fallen on hard times as the crypto winter took a toll on its play-to-earn dynamic, which was exacerbated by the infamous Sky Mavis Ronin bridge hack last March. New features, such as the much-anticipated Land Gameplay release on Dec. 28, did not appear to reverse the declining trend. At the time of publication, about $3.85 million worth of Axie NFTs changed hands in the past 30 days, compared with $639.5 million in November 2021. City of Busan’s crypto exchange As first reported by local news outlet News 1 Korea, the city of Busan is working to establish a decentralized digital assets exchange scheduled for operations this year. According to municipal officials, the exchange will include buying and selling of tokenized intellectual property rights for films and games, as well as trade in gold, precious metals, agricultural and livestock products, ships and real estate. The Busan Digital Asset Exchange Establishment Promotion Committee plans to coordinate with domestic financial companies and conduct system tests in the near future. Bybit’s Genesis exposure  In a Jan. 20 Twitter thread  posted  by Ben Zhou, CEO of Singaporean cryptocurrency exchange ByBit, the blockchain executive clarified the exchange positions after questions arose regarding an alleged $151 million exposure to bankrupt crypto lender Genesis Global. As told by Zhou, the exposure amount is limited to Mirana, the investment arm of ByBit, and that $120 million of collateralized positions out of the $151 million exposure amount “had already liquidated.” Zhou claims that Mirana only manages “some” ByBit company assets and that clients’ funds are separated. In addition, Zhou said that ByBit Earn products don’t use Mirana. Genesis Global froze withdrawals last November, citing “unprecedented market conditions,” and filed for bankruptcy on Jan. 20, reportedly owing $3.5 billion to over 50 creditors. Full disclosure: 1. Mirana is the investment arm of bybit. 2. Mirana only manage some bybit company asset. Client fund is separated snd bybit earn product doesn’t use mirana. 3. The reported 151m has abt 120m of collateralized positions which mirana had already liquidated. https://t.co/kqVPpAMGky Bitzlato’s trail of dirty money According to a Reuters report on Jan. 24, cryptocurrency exchange Binance allegedly helped move $346 million in Bitcoin for now-defunct Hong Kong cryptocurrency exchange Bitzlato. Binance was also reportedly one of the largest counterparties to the exchange. On Jan. 23, Europol stated that $19.5 million were seized in enforcement actions against Bitzlato. Last week, the United States Department of Justice announced a major international cryptocurrency enforcement action against Bitzlato for the latter’s alleged role in laundering $700 million in funds tied to dark web marketplace Hydra and Russian illicit finance. Its founder, Anatoly Legkodymov, a Russian national and resident of China, was arrested in Miami on Jan. 18 on charges of operating an unlicensed money transmitter. The exchange has since been shut down. Through a detailed analysis of our address labels and on-chain analytics, we have uncovered a significant portion of the funds that was sanctioned on Bitzlato. Including:

Binance Labs Investments

104 Investments

Binance Labs has made 104 investments. Their latest investment was in FilSwan as part of their Seed VC - II on January 1, 2023.

CBI Logo

Binance Labs Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

1/16/2023

Seed VC - II

FilSwan

$3M

No

4

12/8/2022

Seed VC - III

GoPlus Security

Yes

9

12/2/2022

Seed VC

Ambit

Yes

1

12/2/2022

Seed VC

Subscribe to see more

$99M

Subscribe to see more

10

11/29/2022

Seed

Subscribe to see more

Subscribe to see more

10

Date

1/16/2023

12/8/2022

12/2/2022

12/2/2022

11/29/2022

Round

Seed VC - II

Seed VC - III

Seed VC

Seed VC

Seed

Company

FilSwan

GoPlus Security

Ambit

Subscribe to see more

Subscribe to see more

Amount

$3M

$99M

New?

No

Yes

Yes

Subscribe to see more

Subscribe to see more

Co-Investors

Sources

4

9

1

10

10

Binance Labs Fund History

2 Fund Histories

Binance Labs has 2 funds, including Binance Labs Blockchain & Web3 Fund.

Closing Date

Fund

Fund Type

Status

Amount

Sources

6/1/2022

Binance Labs Blockchain & Web3 Fund

$500M

1

The Blockchain For India Fund

Subscribe to see more

Subscribe to see more

10

Closing Date

6/1/2022

Fund

Binance Labs Blockchain & Web3 Fund

The Blockchain For India Fund

Fund Type

Subscribe to see more

Status

Subscribe to see more

Amount

$500M

Sources

1

10

Binance Labs Partners & Customers

10 Partners and customers

Binance Labs has 10 strategic partners and customers. Binance Labs recently partnered with Societa Sportiva Lazio on January 1, 2022.

Date

Type

Business Partner

Country

News Snippet

Sources

1/11/2022

Partner

S.S. Lazio x Immobile Best 6 NFT Drop and PowerStation with LAZIO Rewards.

S.S. Lazio and Binance partnered with NFKings to launch Immobile 's ` Best 6 ' goals as NFT 's in an exclusive Mystery Box sale , available via the LAZIO Fan Token .

1

1/11/2022

Partner

Sweden

11/22/2021

Partner

Hong Kong

1/13/2021

Partner

Hong Kong

Subscribe to see more

Subscribe to see more

10

9/30/2020

Vendor

Taiwan

Subscribe to see more

Subscribe to see more

10

Date

1/11/2022

1/11/2022

11/22/2021

1/13/2021

9/30/2020

Type

Partner

Partner

Partner

Partner

Vendor

Business Partner

Country

Sweden

Hong Kong

Hong Kong

Taiwan

News Snippet

S.S. Lazio x Immobile Best 6 NFT Drop and PowerStation with LAZIO Rewards.

S.S. Lazio and Binance partnered with NFKings to launch Immobile 's ` Best 6 ' goals as NFT 's in an exclusive Mystery Box sale , available via the LAZIO Fan Token .

Subscribe to see more

Subscribe to see more

Subscribe to see more

Subscribe to see more

Sources

1

10

10

Discover the right solution for your team

The CB Insights tech market intelligence platform analyzes millions of data points on vendors, products, partnerships, and patents to help your team find their next technology solution.

Request a demo

CBI websites generally use certain cookies to enable better interactions with our sites and services. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. You can read more about your cookie choices at our privacy policy here. By continuing to use this site you are consenting to these choices.