Binance to Launch $1B Blockchain Startup Fund

New organization will be a combination of a fund of funds (investing in other funds) and a company investing in blockchain projects directly
01 June 2018   1512

The largest crypto-exchange of today, Binance, announced plans to launch a fund to support companies operating in the field of blockchain and digital currencies, reports CoinDesk.

According to the chief of the incubation program Binance Labs Ella Zhang, the funds will come from the company's own reserves. The funds will be allocated gradually, during 10 stages (each time - at $ 100 million).

Also, she notes, the new organization will be a combination of a fund of funds (investing in other funds) and a company investing in blockchain projects directly.

We believe it's a disruptive social experiment. Binance Labs hopes to work with more aspirational projects to explore blockchain applications and together move forward the growth of the industry.
 

Ella Zhang

Chief, Binance Labs

Binance is seeking 20 funds to invest in, which each must manage a pool of at least $100 million in order to be eligible. The size of assets under the management of companies participating in the new fund should be at least $ 100 million. It is noteworthy that Binance will invest in these funds through its own BNB token.

Binance to Launch Zero Fee Tezos Staking

Expert believes is proposal is "pretty insane" because, for example, Coinbase takes 25% of users' rewards for staking
04 December 2019   116

On December 4, Binance Bitcoin Exchange will add Tezos Staking Support (XTZ). Rewards will be calculated daily, and distributed once a month until the 20th day.

The minimum deposit for staking is 1 XTZ, and the annual rate is 6-7%.

At the same time, Binance will not charge fees for its services, which threatens the business models of most stake-in services, Larry Cermak from The Block believes.

He reminded that Coinbase is currently deducting 25% of the user rewards for XTZ staking, but it is likely that they can revise this policy in the near future to maintain competitiveness.