Binance Labs Leads Funding Round For Web3 Security Startup

Aligning with ambitious investment plans in the ongoing bear market, Binance Labs – the venture capital arm of the world’s largest crypto exchange – announced leading a private round II for GoPlus Security. The value of the investment has not been disclosed.

The fresh capital infusion will be deployed to develop security data further, build a security service marketplace, and conduct new hiring for the Web3 security infrastructure provider.

According to the official blog post, Go Plus Security also intends to use the funds to launch a security service marketplace at the end of 2022.
So far, the startup provides security data to 13 chains.
Following the development, Yi He, Co-Founder of Binance and Head of Binance Labs, commented,
“Security is foundational to the ever-growing Web3 ecosystem and community. By supporting consumer-facing solutions like Goplus Security, we hope to see how security services to end users can evolve and prosper.”

The move comes days after Binance CEO, Changpeng Zhao (CZ), confirmed plans to use an astonishing reserve of $1 billion on acquisitions and investments.
According to recent estimates, Binance has already committed more than $325 million to over 67 projects this year alone. In contrast, the crypto exchange spent around $140 million across 73 projects for the entire year of 2021 amidst a far more bullish crypto market.
Binance Labs launched a $500 million fund to support promising Web 3 projects and start-up firms with great potential earlier this year.
Traditional e-commerce and gaming companies will remain on Binance’s radar for potential investment opportunities.

Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to receive up to $7,000 on your deposits.

Read More

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Beware! Scammers hacked an Indian Website with a Fake Azuki NFT Airdrop

You are here: Home / News / Crypto Scam / Beware! Scammers…

Yen falls to ¥135 against the dollar for first time since 2002

Choose your subscription Trial Try full digital access and see why over…

Mark Your Calendar! Ethereum Merger to Began Officially on September 6, 2022

Ethereum Merger is the most awaited event in the crypto space and…

✦ The future of at-home fitness

Hi Quartz members, Looking at Peloton’s performance this year alone, you might…