Share this article
Former Binance Execs Create $100M Fund to Spur Crypto Adoption in Emerging Markets
Old Fashion Research was formed by Ling Zhang and Wayne Fu, previously Binance's vice president of M&A and head of corporate development respectively.
Updated May 11, 2023, 5:39 p.m. Published May 26, 2022, 8:56 a.m.
A group of former executives of cryptocurrency exchange Binance have created a $100 million venture fund with a focus on the metaverse and bringing greater crypto adoption to emerging markets.
- Old Fashion Research (OFR) was formed by Ling Zhang and Wayne Fu, previously Binance's vice president of M&A and head of corporate development respectively.
- The fund, backed by traditional venture capital funds, family offices and angel investors, will focus on the metaverse and crypto adoption in emerging markets.
- "We see a greater potential of crypto adoption in markets where people are still struggling from the underdeveloped finance and banking system," an OFR spokesperson told CoinDesk. "We also see the potential of crypto to further change people's life and work style after seeing the fast growth in Southeast Asia markets."
- The fund, whose name was inspired by the Old Fashioned cocktail, according to the fund's website, has already invested in over 50 blockchain projects. These include blockchain analytics platform Nansen, trading platform WOO Network and African gaming community Metaverse Magna.
- Despite the troubling conditions of the crypto markets in recent weeks and months, venture capital does not appear to have been overly spooked. This week Andreessen Horowitz (a16z) formed its fourth fund to invest in crypto companies worth $4.5 billion, more than double the size of its third raised nearly a year ago.
Read more: Crypto Valley Venture Capital Launches African Blockchain Early-Stage Fund
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
UPDATE (09:55 UTC May 26): Adds quote from OFR spokesperson. Removes references to and some details from Tech Crunch article and OFR not being available for comment.
Mehr für Sie
Was Sie wissen sollten:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
Mehr für Sie
Foundation behind restaking protocol EigenLayer plans bigger rewards for active users
An Incentives Committee would direct programmatic token emissions, focusing allocations on participants that secure AVSs and contribute to the EigenCloud ecosystem.
Was Sie wissen sollten:
- The Eigen Foundation has unveiled a governance proposal aimed at ushering in new incentives for its EIGEN token, shifting the protocol’s reward strategy to prioritize productive network activity and fee generation.
- Under the plan, a newly formed Incentives Committee would manage token emissions, prioritizing participants who secure Actively Validated Services and expand the EigenCloud ecosystem.
- The proposal includes a fee model that channels revenue from AVS rewards and EigenCloud services back to EIGEN holders, potentially creating deflationary pressure as the ecosystem grows.
Top Stories
