November 29, 2022

The announcement comes a few days after the venture capital arm of the world’s largest crypto exchange said it raised a $500 million fund.

Source: coindesk.com
Source: coindesk.com

Bill Qian, the head of Binance Labs, the venture capital arm of Binance, which is the world’s largest crypto exchange by trading volume, is leaving the firm.

“We don’t comment on people moves at Binance as a matter of policy. However, we can confirm that Bill is leaving Binance for personal reasons,” a Binance spokesperson said.

The Block had earlier reported the move, citing several people familiar with the matter. Nicole Zhang, Binance Labs’ executive director, also left the firm last month, according to her LinkedIn profile.

Earlier this week, Binance Labs said it raised a $500 million fund to invest in Web 3 and blockchain firms.

The fund received investments from DST Global Partners, Breyer Capital, Whampoa Group and other private equity funds.