#Binance crypto fund series

'Binance does not, and has never, invested or otherwise deployed user assets without consent under the terms of specific products,' a company spokesperson told Insider in a statement. Click on the coins to see historical coin price, market cap and more information. These investment firms include Alameda Research, the trading arm of FTX.Įssentially, this means that more than $1 billion worth of the crypto, known as B-peg USDC, were left uncollateralized despite Binance's claims that they were 100% backed, the report reads. Find cryptocurrency prices and market cap on Binance Cryptocurrency Directory.

The new fund will invest in projects that can expand cryptocurrency use cases and drive the adoption of Web 3 and blockchain technologies.

Binance has self-funded the majority of its insurance fund, which has steadily grown by 15 from its initial 10 million USDT. The largest crypto exchange in the world reportedly transferred $1.8 billion in stablecoin collateral to hedge funds which subsequently left its investors exposed, according to Forbes, which reviewed on-chain data from August 17 to early December. Main Takeaway: Binance Labs closes a new 500 million investment fund with support from leading global institutional investors. Breaking Down the Binance Futures Insurance Fund Binance Futures is the fastest-growing crypto-derivatives platform in terms of trading volume, boasting an insurance fund worth 11.5 million USDT, as of January 13, 2020. However, it must move quickly to succeed. Aptos Labs, Jump Crypto and other prominent crypto. franchise of the world's largest crypto exchange, has raised 200 million to help grow the business and diversify its revenue base.

#Binance crypto fund series

Binance reportedly appropriated customer assets for its own purposes in a series of moves that present similarities to events leading up to FTX's downfall, according to Forbes. Crypto exchange Binance has allocated another 1 billion for its crypto recovery fund, increasing the size of the fund to over 2 billion.