Binance, the world's largest cryptocurrency exchange, made $5 million in Curve DAO (CRV).
Binance said in a statement that Binance Labs, the venture capital and incubator arm of Binance, has invested $5 million in Curve DAO Token (CRV), an Ethereum-based token that powers the Curve ecosystem.
The statement made the following statements:
“Binance Labs has invested $5 million in Curve DAO Token (CRV), an Ethereum-based token that powers the Curve ecosystem.
This investment underlines Binance Labs' commitment to collaborating with Curve and shaping the future of the DeFi industry.”
Yi He, Binance's Co-Founder and President of Binance Labs, said, “Curve is the largest stable exchange and, as a key protocol in DeFi, has contributed to the space's steady growth in 2023. According to the protocol, Binance Labs, through our investments and strategic cooperation, has created Curve'. We see this collaboration as a starting point and look forward to working together to further drive the growth of the DeFi ecosystem.” said.
As part of the Binance Labs and Curve collaboration, Curve plans to distribute to the BNB Chain.
Curve serves as the foundation layer of DeFi, and this move will further drive the growth of the BNB Chain DeFi ecosystem.
“BNB Chain has gained a significant presence in DeFi and is well positioned to deploy Curve's current and future products on its chain,” said Michael Egorov, Curve founder. We look forward to collaboratively fostering innovation and growth in the DeFi ecosystem.”
CRV price rose 6% after the news.
*Not investment advice.