This week, time has flown by as we witness a cascade of good news following Trump’s victory. It’s exciting to see thrilling days ahead for cryptocurrency enthusiasts. Binance has just announced a new investment in a cryptocurrency company.
Binance Invests in a Cryptocurrency Project
Binance Labs is making investments primarily in protocols that are at the beginning stages and have yet to release altcoins. This trend continues to be observed. Binance gains substantial returns on its investments in these early-stage projects if the companies manage to survive and grow. As the investment arm of the Binance exchange, Binance Labs boasts a total value exceeding $10 billion.
Today’s investment was directed towards BIO Protocol. Binance Labs’ efforts to finance and commercialize scientific research using blockchain technology led to this investment in BIO Protocol.
BIO Protocol’s Objectives
The BIO platform assists scientists, patients, and investors worldwide in financing and building the future through biotechnology DAOs. Binance Labs Investment Director Andy Chang remarked,
“BIO Protocol represents a significant step forward in DeSci by merging biotechnology and DeFi. We are committed to uncovering groundbreaking developments that create real-world impact by supporting projects that develop meaningful technologies – our investment in BIO aligns closely with this approach.”
