DWF Labs allocates $15 million to Binance's Industry Recovery Initiative for Web3 projects
Funding from DWF Labs will be directed toward the support of all entrepreneurs and investors affected by the series of collapses of centralized cryptocurrency platforms, including the likes of Voyager, FTX, Alameda Research, BlockFi and so on.
DWF Labs transferred the entire sum in Binance USD , a core USD-pegged stablecoin of Binance's multi-product cryptocurrency ecosystem.In its statement, the DWF Labs team stressed its commitment to the progress of the Web3 revolution, its most promising and sophisticated protocols: We believe that it is paramount to support builders in this challenging time. We are committed to providing financial support to the most promising and highest-quality companies that need it most.
On Nov. 24, 2022, Binance CEO Changpeng"CZ" Zhao announced the launch of a $1 billion fund, Industry Recovery Initiative , designed to address"protecting consumers and rebuilding the industry."The team of Binance , the world's largest cryptocurrency exchange and multi-product ecosystem for individuals and entrepreneurs, appreciated the collaboration with DWF Labs:DWF Labs also provided funding to one of the leading third-generation blockchains, The Open Network .
As covered by U.Today previously, DWF Labs recently opened an office in South Korea to highlight its focus on expansion into the Asian region.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Fund Password: A New Security Feature For Faster and Safer Transactions on Binance P2P | Binance BlogIntroducing Fund Password, a new security feature on Binance P2P. With this feature, you can: 🔸 Avoid delayed authentication messages 🔸 Facilitate faster release of orders 🔸 Minimise falling prey to phishing messages
Read more »
Binance Completes Integration of USD Coin (USDC) on Algorand Network, Opens Deposits and Withdrawals | Binance SupportFellow Binancians, Binance has completed the integration of USD Coin (USDC) on Algorand network. Deposits and withdrawals for USD Coin (USDC) are now open on the Algorand network. Please find your ...
Read more »
Game7 Launches $100 Million Grants Program to Push Web3 Gaming Development – Blockchain Bitcoin NewsGame7 announced that the objective of this move is to offer support to these initiatives to push the Web3 gaming ecosystem forward even in unfavorable times for the crypto industry.
Read more »
Festivals in the metaverse: How Web3 projects are taking culture virtualWhile it may have been impossible to imagine only a few years ago, the metaverse has become a prime location for massive festivals. Who in Web3 is doing it the best?
Read more »
Mobile game maker Aeria Canada Studio to migrate products to web3: ExclusiveThe titles will be revamped to include NFTs and decked out with Ready Games' web3 infrastructure before being re-released.
Read more »
Web3 startup Starlight debuts corporate cards for crypto firms: ExclusiveBrevan Howard-backed web3 startup Starlight launched corporate cards that aim to ease expense payments for crypto companies.
Read more »