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Binance Labs Doubles Down on Aptos Bet Ahead of Blockchain Launch
The venture wing of Binance is increasing its investment in Aptos.
By Danny Nelson
Updated May 11, 2023, 4:21 p.m. Published Sep 15, 2022, 2:57 p.m.
Binance’s venture capital wing said Thursday it is increasing its investment in upstart blockchain platform Aptos Labs.
In a blog post, Binance Labs said the investment expands its “commitment to infrastructure building.” Binance had previously joined Aptos Labs’ $150 million funding round earlier this year. It was not clear how large Binance’s latest investment is; Binance did not immediately respond to CoinDesk.
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Bloomberg reported that Aptos Labs’ valuation is now up to $4 billion.
Aptos, staffed by former Facebook employees, is building a layer 1 blockchain using parts of the tech built for Facebook’s defunct Diem stablecoin project. It is approaching a mainnet launch expected for later this year and wooing decentralized finance (DeFi) builders in the run-up.
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