Share this article
Binance Labs Invests Millions in Blockchain Auditing Platform CertiK
Binance Labs, the crypto exchange's incubator wing, says it has has invested millions in smart contract and blockchain auditing platform CertiK.
By Nikhilesh De
Updated Sep 13, 2021, 8:27 a.m. Published Oct 8, 2018, 11:00 a.m.
Make us preferred on Google
Binance Labs, the incubator wing of the Binance cryptocurrency exchange, has invested in a smart contract and blockchain audit startup, the company announced Monday.
Called CertiK, the firm seeks to help secure smart contract and blockchain platforms through a formal verification process. The team has already begun working on ensuring existing blockchain platforms do not contain bugs that could lead to a loss of funds or other vulnerabilities, according to a press release.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The company was founded last year, in part by Yale professor Zhong Shao, who is known for developing a "certified operating system" called CertiKOS, and Columbia University assistant professor Ronghui Gu.
CertiK's team operates by applying mathematical proofs to networks to determine whether hackers can breach the systems.
The team's methods include "a layer-based decomposition approach, pluggable proof engines, machine-checkable proof objects, certified [decentralized application] libraries and smart labeling," according to the release. By using these approaches, the researchers claim they can then confirm a blockchain platform's security in an objective manner.
While Binance Labs did not disclose the total amount of the investment, a spokesperson told CoinDesk that its stake accounted for "multiple millions" of dollars.
The incubator's CEO, Ella Zhang, said in the release that CertiK's platform addresses at least one outstanding need in the blockchain space, explaining:
"CertiK mathematically validates the security of smart contracts, which is a critical pain point we are facing in the blockchain ecosystem, bypassing the limitations of manual detection."
The investment "signals the recognition of the importance of formal verification in the blockchain industry," the statement went on to say. CertiK in particular comes with a "unique advantage" in the field given its history and proven technology.
This technology includes CertiKOS, which has already been used in both enterprise and military programs, and is one of the tools used by the U.S. Defense Advanced Research Projects Agency (DARPA), the release notes.
Business miniatures image via Shutterstock
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
Bitcoin stuck near $88,000 as gold's and silver's record-breaking rallies show exhaustion signs
"Gold and silver casually adding an entire bitcoin market cap in a single day," wrote one crypto analyst.
What to know:
- Bitcoin is off its worst levels of the weekend, but still near the year's low at $87,700.
- Facing the same news cycle as crypto, precious metals continued to surge higher, but a quick retreat from their highs on Monday suggested a bit of exhaustion was setting in.
- Analysts remain dour on the outlook for crypto prices given the looming government shutdown as well as delays in passage of the Clarity Act.
Top Stories
