September 11, 2024
Binance Labs, the venture capital division of the largest crypto exchange Binance, has invested in Blum, a decentralized crypto exchange integrated into the Telegram platform. This investment aims to accelerate Blum’s development and growth while increasing its visibility among crypto enthusiasts.
Project | Latest Raise Date | Stage | Lead Investor | Category |
|---|---|---|---|---|
Blum | September 11, 2024 | Investment | Binance Labs | Trading, DeFi |
During the seventh season of the BNB Chain Most Valuable Builder (MVB) program, Binance Labs invested in Blum, a Telegram trading mini-application that specializes in meme coins and new tokens with leverage.
About Blum
Blum is a hybrid crypto exchange that integrates with Telegram, allowing users to trade a wide variety of tokens from both centralized and decentralized exchanges. It supports over 30 networks and offers features like P2P trading, derivatives trading, and gamified experiences. Blum aims to make crypto trading easy and accessible, providing a seamless experience without the need to switch between multiple platforms.
Website: https://www.blum.io/
About Investor
Investor: Binance Labs
Binance Labs is the venture capital and incubator arm of Binance, a leading cryptocurrency exchange. With a portfolio worth over $10 billion, Binance Labs is dedicated to identifying, investing in, and empowering viable blockchain entrepreneurs, startups, and communities. It provides financing to industry projects that help grow the wider blockchain ecosystem.
Binance Labs is committed to supporting fast-executing, technical teams who positively impact the crypto space and build the decentralized web. Its portfolio covers 250 projects from over 25 countries across six continents and has a return-on-investment rate of over 14X2. Fifty of Binance Labs’ portfolio companies are projects that have gone through their incubation programs.
Location: Hong Kong, Hong Kong
Website: https://labs.binance.com/
A central focus of investor activity in the cryptocurrency space is the evaluation of new crypto projects to invest in, particularly those with huge potential. This blog provides insight into what new ventures are benefiting from venture capital support (VC funding in crypto). These new crypto projects, funded by professional investors, can dictate the next narrative in crypto and the next big crypto movers.
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