RATE Group | While Many VCs Leave, Binance Expands Crypto Incubator to 5 Regions
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While Many VCs Leave, Binance Expands Crypto Incubator to 5 Regions

14 Dec While Many VCs Leave, Binance Expands Crypto Incubator to 5 Regions

Posted at 17:42h in Cryptocurrency News by

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Binance Coin

Many venture capital firms have broken deals with companies in the crypto sector over the past several months.

Barry Silbert, the founder and CEO of Digital Currency Group, a major cryptocurrency-focused venture capital firm that has invested in large-scale cryptocurrency businesses in the likes of Coinbase, bitFlyer, and Blockchain, has said that amidst falling crypto asset prices, deals between crypto startups and venture capital firms have started to fall out.

Despite the troubling trend, Binance, the world’s largest cryptocurrency exchange by daily volume and active monthly visitors, expanded its crypto incubator across five major cities.

How is Binance Able to Expand its Crypto Incubator?

Changpeng Zhao, the CEO of Binance better known to the community as CZ, said that many venture capital firms are only in it for the profit, which is understandable, and tend to head to the exits as the market struggles.

Although many venture capital firms are holding out on investing…

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