Share this article
Binance Labs Invests $8M in Hackathon Organizer DoraHacks
As part of the funding, DoraHacks will co-host the latest round of Binance Labs’ startup incubator.
By Brandy Betz
Updated May 11, 2023, 7:05 p.m. Published Nov 19, 2021, 9:00 a.m.
Make us preferred on Google
DoraHacks, a global hackathon organizer and Web 3 developer community, has received $8 million in strategic funding from Binance Labs, the venture capital and incubator arm of the world’s largest crypto exchange by volume.
DoraHacks provides on-chain toolkits to help developers raise funds for their startups. DoraHacks community members have received over $12 million in grants and donations so far this year, according to the company.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
“Since 2018, DoraHacks has partnered with Binance on 15 global hackathons and grant rounds. Through DoraHacks’ developer events and grant toolkits, Binance has distributed over $2 million in funding to more than 100 teams,” said DoraHacks founder Eric Zhang in a press release. “This new round of strategic investment will help us accelerate the innovation of developer incentive mechanisms, deliver more effective products to support hackathon organizers and Web 3 open-source applications and promote Dora Factory’s infrastructure and ecosystem development.”
DoraHacks partner Steve Ngok told CoinDesk the funding would also help recruit more senior management to improve efficiency and accelerate development.
As part of the funding, DoraHacks is co-organizing the recently launched third session of the Binance Labs Incubation Program, an eight-week session providing growth assistance for nine startups.
Prior participants in the incubation program include Polygon and Cere Network.
Read more: PureStake Raises $6M From Binance Labs, Coinbase Ventures
DoraHacks and Binance Labs will work together on funding and supporting more early-stage Web 3 startups. The companies will also conduct joint research and development on decentralized governance technologies and decentralized autonomous organization (DAO) infrastructure. DoraHacks will work with Binance Smart Chain (BSC) on BSC grants, hackathons and integration of Dora DAO infrastructure.
“Backing early-stage startups and developers has always been a strategy for Binance Labs. DoraHacks is one of the largest multi-chain developer communities with great Web 3 projects emerging,” Binance Labs Fund head Bill Chin said in the press release.
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Millions in crypto wealth at risk of vanishing when holders die. Here's how to protect it
Without proper planning, inherited crypto can easily be lost to delays, missing keys or fiduciaries unfamiliar with the asset class, experts warn.
What to know:
- Crypto holders can take a few steps to prevent their assets from disappearing forever when they pass away.
- Without proper planning, inherited crypto can easily be lost to probate delays, missing private keys, or fiduciaries unfamiliar with the asset class.
- Even with improved regulatory clarity, crypto adds complexity beyond what many in the advisory space are accustomed to.
Top Stories
