Top cryptocurrency exchange Binance has closed its venture capital arm, Binance Labs, with a $10 billion valuation. The move, orchestrated under the leadership of the exchange’s new CEO, Richard Teng, marks a significant change in the company’s operations.
Previously integrated into the broader Binance group, Binance Labs will operate as a separate entity, confirmed a spokesperson who spoke to Bloomberg.
Currently, employees at Binance Labs work under separate contracts in the same setup as the BNB chain, a digital ledger powered by Binance. Despite this new arrangement, Binance Labs will continue to license the Binance brand, ensuring its connection to the famous cryptocurrency exchange.
Meanwhile, the crypto community has been following developments at Binance, especially after the company’s recent fine of $4.3 billion and its leadership transition.
Binance Labs is a venture capital investor and an incubator for early stage projects. The firm’s portfolio includes approximately 250 projects, including notable names such as Sky Mavis, Aptos Labs and Polygon. Binance Labs claims assets worth over $10 billion.
Recently, Binance shut down all Nigerian Naira services due to an ongoing legal dispute with the Nigerian government. The move follows heightened tensions between the cryptocurrency exchange and Nigerian authorities, who are demanding nearly $10 billion in damages from Binance over allegations of currency manipulation.
Financial challenges and regulatory scrutiny
A legal dispute between Binance and the Nigerian government escalated, with allegations of foreign manipulation Exchange
Exchange
An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities and other financial instruments. Typically, an exchange is accessed through a digital platform or sometimes at a physical address where investors organize to trade. Among the exchange’s main responsibilities will be to uphold honest and fair-trade practices. These are important to ensure that the distribution of security rates supported on that exchange is effective
An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities and other financial instruments. Typically, an exchange is accessed through a digital platform or sometimes at a physical address where investors organize to trade. Among the exchange’s main responsibilities will be to uphold honest and fair-trade practices. These are important to ensure that the distribution of security rates supported on that exchange is effective
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Rates through currency speculation and rate fixing. The disagreement led to the shutdown of all Nigerian naira-related services on Binance, affecting deposits and withdrawals.
Nigeria, as one of the largest cryptocurrency markets in the world, is facing significant economic challenges, leading to the devaluation of the Nigerian Naira. Regulatory scrutiny has intensified, with calls to ban cryptocurrency platforms such as Binance and KuCoin. Bio Onanuga, an adviser to the President of Nigeria, has requested regulatory intervention, accusing the platform of manipulating Nigeria’s fiat currency.
Despite regulatory pressure and accusations, Binance has defended its market-based operations, denying any attempts to influence the price of Nigeria’s currency. The standoff underscores the broader debate surrounding cryptocurrencies Regulation
Regulation
Like any other high net worth industry, the financial services industry is heavily regulated to prevent illegal behavior and manipulation. Each asset class has its own set of protocols to deal with their respective types of abuse. In the foreign exchange space, regulation is assumed by authorities in many jurisdictions, although ultimately there is no binding international order. Who are the key regulators of the industry? Regulators such as the UK’s Financial Conduct Authority (
Like any other high net worth industry, the financial services industry is heavily regulated to prevent illegal behavior and manipulation. Each asset class has its own set of protocols to deal with their respective types of abuse. In the foreign exchange space, regulation is assumed by authorities in many jurisdictions, although ultimately there is no binding international order. Who are the key regulators of the industry? Regulators such as the UK’s Financial Conduct Authority (
Read this term And its impact on national currencies reflects the complexity of the evolving economic landscape.
Top cryptocurrency exchange Binance has closed its venture capital arm, Binance Labs, with a $10 billion valuation. The move, orchestrated under the leadership of the exchange’s new CEO, Richard Teng, marks a significant change in the company’s operations.
Previously integrated into the broader Binance group, Binance Labs will operate as a separate entity, confirmed a spokesperson who spoke to Bloomberg.
Currently, employees at Binance Labs work under separate contracts in the same setup as the BNB chain, a digital ledger powered by Binance. Despite this new arrangement, Binance Labs will continue to license the Binance brand, ensuring its connection to the famous cryptocurrency exchange.
Meanwhile, the crypto community has been following developments at Binance, especially after the company’s recent fine of $4.3 billion and its leadership transition.
Binance Labs is a venture capital investor and an incubator for early stage projects. The firm’s portfolio includes approximately 250 projects, including notable names such as Sky Mavis, Aptos Labs and Polygon. Binance Labs claims assets worth over $10 billion.
Recently, Binance shut down all Nigerian Naira services due to an ongoing legal dispute with the Nigerian government. The move follows heightened tensions between the cryptocurrency exchange and Nigerian authorities, who are demanding nearly $10 billion in damages from Binance over allegations of currency manipulation.
Financial challenges and regulatory scrutiny
A legal dispute between Binance and the Nigerian government escalated, with allegations of foreign manipulation Exchange
Exchange
An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities and other financial instruments. Typically, an exchange is accessed through a digital platform or sometimes at a physical address where investors organize to trade. Among the exchange’s main responsibilities will be to uphold honest and fair-trade practices. These are important to ensure that the distribution of security rates supported on that exchange is effective
An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities and other financial instruments. Typically, an exchange is accessed through a digital platform or sometimes at a physical address where investors organize to trade. Among the exchange’s main responsibilities will be to uphold honest and fair-trade practices. These are important to ensure that the distribution of security rates supported on that exchange is effective
Read this term
Rates through currency speculation and rate fixing. The disagreement led to the shutdown of all Nigerian naira-related services on Binance, affecting deposits and withdrawals.
Nigeria, as one of the largest cryptocurrency markets in the world, is facing significant economic challenges, leading to the devaluation of the Nigerian Naira. Regulatory scrutiny has intensified, with calls to ban cryptocurrency platforms such as Binance and KuCoin. Bio Onanuga, an adviser to the President of Nigeria, has requested regulatory intervention, accusing the platform of manipulating Nigeria’s fiat currency.
Despite regulatory pressure and accusations, Binance has defended its market-based operations, denying any attempts to influence the price of Nigeria’s currency. The standoff underscores the broader debate surrounding cryptocurrency Regulation
Regulation
Like any other high net worth industry, the financial services industry is heavily regulated to prevent illegal behavior and manipulation. Each asset class has its own set of protocols to deal with their respective types of abuse. In the foreign exchange space, regulation is assumed by authorities in many jurisdictions, although ultimately there is no binding international order. Who are the key regulators of the industry? Regulators such as the UK’s Financial Conduct Authority (
Like any other high net worth industry, the financial services industry is heavily regulated to prevent illegal behavior and manipulation. Each asset class has its own set of protocols to deal with their respective types of abuse. In the foreign exchange space, regulation is assumed by authorities in many jurisdictions, although ultimately there is no binding international order. Who are the key regulators of the industry? Regulators such as the UK’s Financial Conduct Authority (
Read this term And its impact on national currencies reflects the complexity of the evolving economic landscape.