Binance Labs will grow amid market challenges with 25 new investments in 2023

Despite a challenging market and declining trust in centralized crypto entities, Binance Labs announced 25 new investments in 2023.

At last report, Binance Labs focused mainly on decentralized finance (DeFi), Web3 games, hardware operations, and infrastructure throughout the year.

In the DeFi sector, Binance Labs has invested an undisclosed amount in lending and borrowing protocol Radiant Capital. Additionally, Curve DAO Token (CRV) has allocated $5 million to integrate with BNB Chain. Additionally, Binance Labs has invested $10 million in the Helio protocol to provide stablecoin lending and lending on the BNB Chain. Binance Labs – the venture capital and innovation arm of Binance – also announced a $15 million investment in Xterioled, a web 3 game platform and publisher, as well as a 111 percent stake in GOMBLE's seed fund investment, a South Korean developer of blockchain-based casual games and game publisher. Among tools, Binance Labs has invested in Arkham Token (ARKM), a native of the Arkham blockchain platform, to support “on-chain awareness at the scale of the blockchain ecosystem.” Binance faces serious regulatory hurdles in 2023. When the crypto exchange ended up paying a $4.3 billion fine in a settlement with US regulators, Changpeng “CZ” Zhao was forced to step down from his role as CEO. As a result, Binance's market share dropped by 5%, with OKX and Baybit emerging at the forefront. According to TokenInsights findings, the crypto exchange was In 2023, it decreased from 54.2% to 48.7%.