Binance Unit Launches $1 Billion Fund to Fast-track Blockchain Tech Adoption
Oct 13, 2021
On Tuesday, Binance Smart Chain, a division of cryptocurrency exchange Binance, announced the creation of a $1 billion fund to accelerate the use of digital assets and blockchain technology.
The fund will set aside $500 million for investments in decentralized computing, gaming, metaverse, virtual reality, artificial intelligence, and blockchain-based financial services, according to BSC.
The remaining funds will be split between a builder program worth $300 million and liquidity incentives and talent development programs worth $100 million each.
In a statement, Gwendolyn Regina, investment director of BSC Accelerator Fund, stated, "With the $1 billion project, our focus will be extended to developing cross-chain and multi-chain infrastructures linked with different types of blockchains."
BSC is one of the largest crypto ecosystems, with over one million daily active users dispersed over over 900 decentralized apps.
Subscribe Our Newsletter
FJDynamics, created by DJI's former head scientist Wu Di, has secured a $70 million Series B financing to further its objective of empowering people in the hardest environments using robotic technology.
Companies
Nato
Project EV: A Bright Future Amidst Economic ChallengesProject EV shines amidst economic challenges as supply and demand dynamics shape the electric vehicle industry. Here is why.
Technology
Alexander
What Is a Gamma Squeeze, and How to Trade It?In this article, we will explore what gamma squeeze is, describe how it happens and discuss some real-life examples.
Trading