Bitcoin Exchange Binance Announced the Latest Project It Invested in: It Was Its First Investment in This Field!
The post Bitcoin Exchange Binance Announced the Latest Project It Invested in: It Was Its First Investment in This Field! appeared on BitcoinEthereumNews.com.
Binance Labs, the $10 billion venture capital and incubation arm of Binance, which has made a name for itself with its investments in cryptocurrency projects in different sectors, has invested in a new project. According to The Block, Binance Labs invested in Infrared Finance, a Berachain liquid staking protocol. Accordingly, Infrared Finance, the Berachain liquid staking protocol, has raised an undisclosed amount from Binance Labs in a funding round. Raito Bear, co-founder and CEO of Infrared Finance, told The Block that this round is a private token round. An Infrared spokesperson said that this investment is Binance Labs’ first investment in the Berachain ecosystem. Yi He, Co-Founder of Binance and Head of Binance Labs, said: “At Binance Labs, we are always looking for projects that will grow the blockchain industry, so we look forward to supporting Infrared in its mission to build an infrastructure that will drive the future. The growth of decentralized finance is our goal.” Raito, Founder of Infrared Finance, said: “We are incredibly excited to receive support from an industry leader like Binance Labs. This investment validates our vision, and with Binance Labs’ investment, we are more confident than ever in our ability to create the infrastructure and tools necessary to support Berachain’s future growth.” “ Stating that Infrared is a Berachain liquid staking protocol that creates liquid staking tokens (iBGT and iBERA) for two important tokens for Berachain, the CEO stated that these tokens are BGT (governance token) and BERA (gas token), respectively. Bear also said that Berachain governance token BGT is a non-transferable and illiquid token. Infrared CEO Raito Bear recently announced that Infrared will launch its own token, IRED, in the future. We’ve invested in @InfraredFinance Infrared is a protocol focused on giving users access to Proof of Liquidity (PoL) in one click. Read…
Filed under: News - @ June 24, 2024 8:26 pm