Binance Labs Doubles Down on Aptos Bet Ahead of Blockchain Launch

The venture wing of Binance is increasing its investment in Aptos.

AccessTimeIconSep 15, 2022 at 2:57 p.m. UTC
Updated Sep 15, 2022 at 4:41 p.m. UTC

Danny is CoinDesk's deputy business editor. He owns BTC, ETH and SOL.

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.

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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Danny is CoinDesk's deputy business editor. He owns BTC, ETH and SOL.

CoinDesk - Unknown

Danny is CoinDesk's deputy business editor. He owns BTC, ETH and SOL.