In a surprising move earlier this year, Binance Labs, the venture capital and incubation arm of the world’s leading crypto exchange Binance, announced that it was spinning off from its parent company. This development marks a significant shift during CEO Richard Teng’s tenure, with the website now clearly stating its independence from the Binance Group.
In a strategic move, Binance spun off its $10 billion venture capital arm, Binance Labs, into an independent entity separate from the Binance Group. This development, first highlighted by Bloomberg in a recent report, signifies a significant shift in the structure and focus of the renowned crypto exchange’s investment division. The decision to restructure Binance
In a world where technology constantly pushes the boundaries of innovation, 5thScape emerges as a pioneer in the realm of virtual and augmented reality. This first-of-its-kind crypto-powered project is not just another VR/AR platform, but a groundbreaking ecosystem that integrates tokenization to provide users with a superior reward experience. With a staggering $1.15 million already
The recent sentencing memorandum filed by federal prosecutors sheds light on the extensive financial fraud committed by FTX founder Sam Bankman-Fried. The request for a prison sentence of 40 to 50 years highlights the gravity of his actions, which involved the misappropriation of over $8 billion of customer funds. This revelation not only exposes the
Private wealth management firm, Bernstein, has recently reaffirmed their prediction for Bitcoin’s future value. Analysts Gautam Chhugani and Mahika Sapra have expressed their belief that Bitcoin has the potential to reach $150,000 by the year 2025. This forecast is based on the recent surge in Bitcoin prices, with the cryptocurrency hitting new all-time highs above
The Chief Legal Officer at Coinbase, Paul Grewal, recently addressed a letter written by Senators Jack Reed and Laphonza Butler, criticizing their plea to the SEC for stricter regulations on Bitcoin exchange-traded funds (ETFs). Grewal argued that the evidence actually supports the need for expanding the ETF market to include assets beyond Bitcoin, highlighting the
Recently, the Securities and Futures Commission (SFC) in Hong Kong issued a public warning about the unlicensed operations of MEXC within its jurisdictions. The SFC emphasized that MEXC has been targeting Hong Kong investors without the necessary license to operate as a virtual asset trading platform in the city-state. This violation of local laws has
The Sponge token, specifically SPONGE V2, has garnered the attention of crypto whales as they anticipate its listing on major exchanges. This surge in interest follows the successful migration of the Sponge ecosystem to the Polygon network, rebranded as SPONGEV2. The initial SPONGE token, V1, made its mark during the bear market of May 2023,
Bitcoin experienced a significant crash as the price fell below $66,000, dragging the rest of the crypto market down as well. The root cause of this crash can be linked back to Spot Bitcoin ETFs. These ETFs, which had been driving the bull run, started to show signs of weakening as institutions scaled back on
The recent market correction has led to a dip in the price of Ripple’s XRP, with the asset currently hovering around the $0.63 mark according to CoinGecko’s data. This represents a 5.5% decrease over a 24-hour period. Despite this downward trend, analysts like EGRAG CRYPTO are remaining optimistic about the future of XRP, predicting “life-changing,