Binance Launches $1 Billion New Fund, BNB Rises!

The cryptocurrency industry continues to grow and receive new investments amid deep price fluctuations. Binance announced that it has launched a new $1 billion fund to grow the Binance Smart Chain (BSC) ecosystem.

The fund, which will have a large figure of 1 billion dollars, was divided into 4 categories. Talent development, liquidity incentive program, founder program, investment and incubation platform.

The 1 billion dollar fund will be shared among these categories and it will be aimed to expand the ecosystem.

Binance CEO CZ said about the $1 billion fund:

“BSC has attracted over 100 million DeFi users with just $100 million in initial funding. A new $1 Billion contribution could disrupt traditional finance. As the first blockchain ecosystem to reach one billion users, we can accelerate global adoption.”

After the news was heard, Binance’s own cryptocurrency, BNB, rose 7%. BNB is trading at $421 as of our news time.

*Not investment advice.

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