Binance has Raised $500 million Funds To invest in web 3 and Blockchain Companies.

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Binance, the well-known crypto exchange across the globe, is introducing the launch of a venture capital fund of its own.

The company announces that it would raise &500 million for its initial start-up fund, with support from DST Global and Breyer Capital and also anonymous backing from family offices and corporations.

Web3 is a technological endeavor led by Binance Labs with the goal of creating a new internet based on blockchain technology that is decentralized and independent of other online platforms.