Binance Labs invests in ARKM, the native platform of Arkham

Binance Labs, the venture capital arm and incubator arm of crypto exchange Binance, said on November 15 that it has invested in ARKM, the parent of the “deanonymizing” blockchain platform Arkham.

The company said in a blog post on its website that the investment aims to support “on-chain insights at scale around the blockchain ecosystem.”

Binance Labs investment director Alex Odaghiu told Cointelegraph that “Arkham's proprietary technology advances how intelligence is processed and shared on-chain.” The platform allows individuals or organizations to conduct their own research, allowing users to participate in the intelligence economy with rewards, powered by the ARKM token, the executive added.

Arkham's mission is to demystify blockchain transactions and self-regulate by allowing users to see anyone's blockchain transactions, Binance Labs said in the post. Based on a proprietary artificial intelligence (AI) engine known as ULTRA — which “algorithmically matches addresses with real-world entities” — Arkham's platform allows users to track entities' communications and money flows, according to the announcement.

Binance Labs also introduced Arkham Intel Exchange, the world's first on-chain data exchange. The tool is a “decentralized intelligence economy” that matches buyers and sellers with blockchain intelligence and allows users to generate information to hold value for their work in exchange for ARKM tokens.

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Binance Labs declined to disclose the amount of the investment to Cointelegraph. Amidst the news, the ARKM token jumped more than 30% in the last 24 hours, with its market value reaching a high of $100 million on November 15, according to CoinGecko data.

At the time of writing, ARKM is trading at $0.58, up more than 70% in the past 30 days.

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