Binance, the busiest exchange in terms of trading volume in the cryptocurrency markets, has made significant investments this year. Despite the challenging conditions of bear markets, Binance continues to invest through Binance Labs without interruption. Today, the latest investment was announced, but a total of 16 projects have been funded throughout the year.
zkPass and Binance
The privacy protection protocol zkPass raised $2.5 million in seed funding. Among the investors are Binance Labs, Sequoia China, OKX Ventures, dao5, Susquehanna International Group, Cypher Capital, Leland Ventures, and Blockchain Founders Fund.
zkPass utilizes a combination of three technologies: zero-knowledge proofs, multiparty computation, and three-party transfer layer security. The team aims to provide services in secure identity verification, privacy-based health data markets, and blockchain-based projects in the credit application field.
Projects Invested by Binance
Binance has invested in 126 different crypto projects through Binance Labs. Of these, 22.3% are in the DeFi sector and 21% are in the blockchain services sector. This year, the company participated in the investment rounds of 16 projects. Since April of last year, Binance has allocated over half a billion dollars to early-stage crypto projects. The actual figure could be much higher as the amount was not disclosed for some of the projects it invested in.
The crypto projects it invested in this year are as follows:
- zkPass
- Radiant Capital
- Xterio
- Web3Go
- Mind Network
- Maverick
- Neutron
- Bracket Labs
- DappOS
- Kryptoskatt
- Tabi
- Playbux
- Rumby Stars (CRT)
- Gameta
- Polyhedra Network
- FilSwan
The listing is in reverse chronological order. The period with the highest number of investments made by Binance Labs was June 2023, after nearly a year. During this period, investments were made in 8 different projects. Although the company does not profit from all its investments, individual investors like to follow the company’s portfolio. Moreover, Binance is more generous when it comes to listing projects it invested in during the early stages.
Some of the aforementioned projects have already been listed on the Binance exchange, but there are also initiatives that have not yet issued tokens. In projects that have not issued tokens yet, the possibility of a profitable airdrop should not be underestimated. Therefore, some investors actively participate in the testing processes of relevant initiatives.
