Binance Launches $1 Billion Crypto Growth Fund, Here’s How it Would be Used

Prashant Jha
October 13, 2021
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CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Binance CEO Changpeng Zhao

Binance announced the biggest crypto fund worth $1 billion aimed at accelerating the adoption of digital assets and its smart chain called Binance Smart Chain (BSC). Binance called its crypto fund the biggest funding program of its kind in the whole cryptocurrency industry. The latest crypto fund announcement comes after a year of its BSC accelerator fund worth $100 million. The BSC accelerator fund was used to promote the use of BSC and help new Dapps, and as a result, Binance seed-funded nearly 40 projects with investments of up to $1 million, and another 60 projects were added to the incubation program.

The $1 billion crypto fund has been divided mainly into four major parts

  • $100 million for talent development,
  • $100 million for the liquidity incentive program,
  • $300 million for the builder program
  • $500 million for the investment & incubation program

The world’s leading crypto exchange by trading volume is working to bring bigger innovation to the crypto world and the billion-dollar fund will help in achieving that. Binance said,

“With a total of $1 billion in available funding, this is the world’s largest crypto accelerator. The program is designed to boost the growth and innovation of projects and bolster the wider community and create a crypto-native pool of talent that will pave the future of crypto.”

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Binance Continues to Focus on Development Amid Regulatory Hurdles

Binance over the past year has faced regulatory actions and warning from nearly a dozen countries over non-compliance. While the regulatory burden keeps mounting for the crypto exchange, it continues to make new development programs to make Binance the go-to global option for crypto users. These accelerator programs have led to several successful companies today. Polygon, the Ethereum second layer solution is a prime example of successful products coming out of Binance incubation and accelerator programs.

Binane is also working with regulators to mend its ways and become a fully compliant crypto exchange in countries it’s currently operational in.

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
An engineering graduate, Prashant focuses on UK and Indian markets. As a crypto-journalist, his interests lie in blockchain technology adoption across emerging economies.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.