Share this article
Binance Taps Co-Founder Yi He to Head $7.5B Venture Arm
Binance Labs announced a new $500 million fund in June to invest in Web3 and blockchain projects.
By Brandy Betz
Updated May 11, 2023, 6:52 p.m. Published Aug 3, 2022, 3:07 p.m.
Cryptocurrency exchange Binance has appointed co-founder Yi He to oversee its venture capital arm, Binance Labs, two months after it raised $500 million for a new fund focused on Web3 and blockchain investments.
- Binance Labs, which focuses on early-stage investments, manages $7.5 billion in total assets across more than 200 portfolio projects, according to a press release. Portfolio companies include Ethereum sidechain Polygon, crypto exchange FTX and security firm CertiK.
- Yi, who joined Binance just before its launch in 2017, will oversee global strategy and day-to-day operations of Binance Labs with a particular focus on supporting infrastructure projects and improving utility in crypto and blockchain projects.
- She will continue her work with the parent company, including institutional businesses, marketing, Binance P2P and Earn.
- During a CNN appearance on Wednesday, Binance CEO Changpeng Zhao said Yi is "very aggressive" and that Binance would be making "quite a lot of investments" in the near term. He also said Binance as a whole plans to continue hiring, with a target of expanding headcount from the current 6,000 to 8,000 by the end of the year.
Read more: Binance Investigations Officer: AML Cost Exchange ‘Billions in Revenue’
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
More For You
What to know:
- 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.
More For You
VanEck's new Avalanche ETF filing to include staking rewards for AVAX investors
The fund will use Coinbase Crypto Services as its initial staking provider and pay a 4% service fee, with rewards accruing to the fund and reflected in its net asset value.
What to know:
- VanEck has updated its filing for an Avalanche ETF, VAVX, to include staking rewards, aiming to generate income for investors by staking up to 70% of its AVAX holdings.
- The fund will use Coinbase Crypto Services as its initial staking provider and pay a 4% service fee, with rewards accruing to the fund and reflected in its net asset value.
- If approved, the fund will trade on Nasdaq under the ticker VAVX, tracking AVAX's price via a custom index, and will be custodied with regulated providers, including Anchorage Digital and Coinbase Custody.
Top Stories
