Binance Raises Over $10 Million from Leading Venture Capital Firms
SHANGHAI – Binance, the cryptocurrency exchange, today announced it has completed its first round of financing. Blackhole Capital and Funcity Capital led the investment round. Binance Exchange has been operating for 50 days, and for the first time, the company is disclosing its financing information.
Binance Capital Layout
Blackhole Capital, founded in 2014 by Liangcheng Zhang (known as the successor of RF Properties), has invested in 30+ projects, and incubated 3 projects in less than 2 years. The founder of Zhangliang has a combined ten years of experience in real estate, AI, customer consumption and entertainment industries.
Funcity Capital was founded by Weixing Chen, founder of Kuaidi. Kuadi merged with Didi to create one of the world’s largest smartphone-based transport services.
Surging in users and grow fast
It looks like a miracle for a brand new startup has such a capital valuation with launching for just one month. In effect, Binance has a superstar team from each area. Changpeng Zhao, founder CEO, used to work at Bloomberg and Blockchain.info as the head of the technology department is an experts in trading systems and is very well known in blockchain community. Yi He, co-founder, used to be account for branding and marketing of OKCoin, Yixia Tech (has 20 billion market capitalization). She is the most concerned female entrepreneur in Internet and blockchain area. Roger Wang, CTO, is former senior architect at Morgan Stanley. He has a deep insight in finance and technology industry. Now these talents get together and make their efforts into Binance.
The second reason that Binance can get investment is its outstanding marketing performance. Binance is on a roll since launched 50 days ago. According to Binance official news, Binance was launched on July 14th, 2017. It has been reached Top 10 exchange on Coinmarketcap’s global 24hr trading volume with just a few days. So far, Binance service covers 180 countries with 120,000 users. More than 60,000 (50+%) of users have at least one trackable action per day. Binance starts cryptocurrency 2.0 age and get its users’ recognition as well.
New ecosystem layout
Binance has a very proactive mindset regarding future developments. As a result, Binance is getting a lot of support from the community and positive appraisal from the capital market.
One of the top 10 exchanges in the world, Binance is growing and improving to build an entire ecosystem. Apart from crypto-trading, Binance offers an ICO Platform, Blockchain Media, and Blockchain Funds.
The ICO platform integrated into Binance offers high-quality projects, and help these projects to launch their ICO.
Blockchain Media will spread awareness about the blockchain technology to communities that are both familiar with blockchain and also communities that are entirely new to the concept of a blockchain.
Blockchain Fund will take responsibility for determining which projects offer the most merit and listing their coins on the Binance exchange
Blockchain industry is still at its nascent stage. It is a critical period for the industry in terms of regulation, technical development and other imperfections. Binance takes a huge responsibility to solve these questions.
As a new platform, Binance insists to regulate itself according to the local law regulations. Changpeng Zhao, CEO of Binance, said Technology is upgrading rapidly, we have to lead from the front and be an industry leader. We will cooperate with government regulation, and ensure the interests of investors. This way, the blockchain industry can and will continue to be developed in a healthy and sustainable way.
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