Binance CEO Revamped Its $7,500,000,000 VC Arm

Binance makes headlines once again. Check out the latest reports about the important crypto exchange below.

It’s been just revealed that the world’s largest crypto exchange by trading volume is making strategic moves to bolster the venture capital side of its business.

In a new announcement, Binance said that chief marketing officer Yi He will take over as the new head of Binance Labs to put an emphasis on fostering innovative growth for blockchain technology.

Yi, who along with CEO Changpeng Zhao co-founded Binance back in 2017, says one of her priorities will be to provide support to talented risk-takers.

“Part of the journey of seeing Binance grow, especially through tough market conditions, has been the ability to identify those founders that have the skills and embody the values needed to thrive in an environment where resources are more limited.”

As the online publication the Daily Hodl notes, regarding the importance of ensuring widespread adoption of Web 3.0 adoption, Yi added the following:

“Web3 will only truly become mainstream when its products weave seamlessly into users’ lives. To expedite widespread adoption, we need to focus our resources on supporting those projects that will push the boundaries of Web3 technology and create products that provide solutions to real-world problems.”

It’s been just revealed that there is a popular analyst who said that an important altcoin has not even seen the real gains yet. Binance Coin is set to see new all-time highs.

The pseudonymous analyst who is known as The Crypto Dog said that he’s bullish on GMX. This is a decentralized exchange (DEX) specializing in perpetual futures and aims to provide low swap fees and “zero price impact” trading.

As the online publication the Daily Hodl notes, despite already rallying over 200% in July from the $15 range to over $45, the Crypto Dog said that GMX, the DEX’s utility token, is itching to move higher as price trades near an area with very little volume profile.