Binance, the world’s largest crypto exchange, plans $1 billion investment fund

The upstarts of crypto aren’t just aiming to disrupt the startup status quo, some are rivaling traditional venture capital investors, too. That’s particularly evident today after Binance, the world’s largest crypto exchange based on daily trade volumes, announced a $1 billion fund to back blockchain and crypto startups.

The ‘Community Influence’ fund, which will be denominated in Binance’s BNB coin, will be aimed at nascent startups and also funds themselves, Ella Zhang — who heads the Binance Labs division — revealed today in an online web broadcast held today in Chinese. For fund of funds investments as an LP, Binance is looking to back funds with at least $100 million in capital and, of course, a focus on blockchain and crypto.

The firm will…

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