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Binance Labs Announces 12 Projects for Incubation
September 21, 2023
MINS
The next instalment of Binance Labs' well-known incubation program has arrived, with 12 projects accepted. Said projects span multiple verticals, including DeFi, GameFi, AI, and Infrastructure.
Binance Labs, the venture capital arm of the Binance exchange, has now announced the 12 projects accepted into the sixth season of its Binance Labs Incubation Program.
Despite the association of Binance with BNB Chain, Binance Labs’ incubation initiative is chain agnostic and aims to help founders and projects achieve success across all verticals and ecosystems.
Season 6 of the program is slated to begin on September 25 and encompasses a two-month long curriculum.
According to Yi He, Head of Binance Labs, "At Binance Labs, our mission is to identify and support early-stage founders who have demonstrated the capacity to create innovative technological solutions, thereby positively impacting the broader Web3 ecosystem. Through our Incubation Program, we leverage resources from our entire ecosystem, to provide advisory support, enabling founders of early-stage projects to grow alongside us."
Meet the 12 Projects
Broken down by the vertical/sector in which they are building, the startups selected for Binance Labs’ incubation are as follows...
Infrastructure
- Vistara - a one-click rollup deployment framework for designing and managing scalable infrastructure across different execution environments.
- UXUY - a multi-chain platform based on MPC and AA wallet technology with intent-centric features, minimizing the entry barriers to decentralized trading.
DeFi
- BBOX - a perp DEX initially launching on Linea that can swiftly create trading pools for a wide asset range while offering advanced yield strategies for liquidity providers.
- Derivio - a decentralized structured derivatives ecosystem on zkSync that aims to unlock the full potential of DEXs for users, builders, and institutions.
- Ethena - a derivative infrastructure provider to transform ETH into the first crypto-native yield-bearing stablecoin with no reliance on banking systems.
- Shogun - a chain-agnostic orderflow aggregator and smart liquidity router for modular networks, initially launching on the Cosmos interchain.
AI-Powered DApps
- MyShell - an AI-powered Web3 chatbot platform featuring proprietary AI and TTS (text-to-speech) models and modular design. It enables users to create, share, and monetize AI robots, each with a unique voice, memory, and dialogue style.
- NFPrompt - an AI-powered Prompt-UGC platform with multimodal proprietary models including text to image/video/music models, that allows users to effortlessly create NFT content, vote, and earn rewards from art campaigns sponsored by Web3 projects.
- QnA3 - an AI-powered Web3 knowledge sharing and search platform. With its own proprietary data lake, QnA3 empowers users to effortlessly access Web3 information and knowledge with a single click.
GameFi/SocialFi
- Cellula - a fully on-chain autonomous life simulation strategy game on Ethereum offering composability, transparency, and persistence.
- Crypto Café - a learn-to-earn platform dedicated to blockchain and crypto topics, with the aim to reduce barriers to entry for users with low-to-no exposure to digital assets.
- MetaCene - the first Web3-native MMORPG homeland game supporting easy access for mainstream gamers.
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Do Kwon Faces Extradition to the United States Over Terra Crypto Collapse
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December 7, 2023
The decision, yet to be officially announced, follows the US Securities and Exchange Commission's (SEC) charges against Kwon for alleged crypto asset securities fraud.
Montenegro's Justice Minister is reportedly inclined to extradite Do Kwon, the founder of Terraform Labs, to the United States, according to a recent report from The Wall Street Journal.
Do Kwon, a key figure in the Terra blockchain ecosystem, is wanted by the United States and South Korea for his alleged involvement in the downfall of Terra's digital assets.
The decision follows Kwon's arrest in Montenegro last March. The collapse, which occurred in May 2022, triggered a broader market downturn affecting major players in the cryptocurrency space.
Legal Maneuvers and Extradition Talks
Kwon, who initially agreed to be extradited to South Korea, now faces the possibility of extradition to the United States. Montenegro's Justice Minister has privately communicated the decision to send Kwon to the US to answer charges related to financial crimes.
The specific charges include commodities fraud, securities fraud, wire fraud, and conspiracy to defraud and engage in market manipulation during Kwon's tenure at Terra.
Despite Kwon's earlier agreement for extradition to South Korea, the final decision rests with Justice Minister Milovic. The minister may await the outcome of a potential last-ditch appeal by Kwon against the court ruling.
Milovic emphasized that the decision would be made public "in a timely manner," leaving room for speculation on the intricate legal proceedings.
SEC Charges and Market Impact
The United States Securities and Exchange Commission (SEC) had previously charged Kwon with defrauding investors in crypto schemes in February. The legal action marked a pivotal moment, linking Kwon to allegations of orchestrating a multibillion-dollar crypto asset securities fraud.
In May 2022, Terraform Labs' collapse had a significant impact on the broader cryptocurrency market, impacting major platforms like Voyager Digital, BlockFi, Celsius Network, and FTX.
Disclaimer: This is a paid Ask Me Anything (AMA), BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement AMA for $2000 Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the AMA.
Disclaimer: Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
Disclaimer: Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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