Cryptocurrency News

Binance Invests a Large Sum in Multicoin Capital

Binance, the leading crypto platform, has invested a large sum of money in the Texas-based firm Multicoin Capital, which specializes in funding cryptocurrencies. Binance recently stated that it saw its investment in the firm as a welcome development. The outcome of the investment will create a limited partnership status for Binance with Multicoin Capital. Multicoin came into the limelight in 2017 when the ICO became very popular among investors and the finance industry. In 2019, the company secured huge funds from the ICO, netting up to $75 million from investors. Both Binance and Multicoin are now partnering to ensure that the 2nd series of fundraising for MATH becomes successful.

Remarks by the Multicoin Management

Changpeng Zhao of Milticoin Capital made a remark expressing the pleasure of the company’s management to work together with Binance as partners. According to the Chief Executive Officer of Binance, Multicoin Capital has played a prominent role in developing cryptocurrencies across the globe. Meanwhile, Zhao, in his statement, said that the company upholds high ethical standards in their investment policies. He also said that the company’s management always assesses investments objectively and is quick to identify projects that have the prospects to break new grounds in the crypto industry.

Multicoin Capital has invested in about 20 different projects, with most of them being investments in startups related to the industry. MathWal blockchain stands out among such assets. Besides Binance, other limited partners that will join the Multicoin Capital venture include Ribbit Capital, David Sacks, among others. Tushar Jain, the managing partner, says that Binance remains a top provider of crypto infrastructure, contributing positively to the crypto industry’s development. He also disclosed that Multicoin Capital had spent several days assessing the operation and contribution of Binance to the blockchain.

More About Binance and Multicoin Capital

According to the company’s statement on its website, Binance is a leading crypto platform whose goals include enhancing the opportunity to make more money freely. The company decides to achieve this by using the crypto platform and offering products that collectively work o achieve its coveted goals. The firm believes that in the decentralized marketplace lies the future of world finance.

Last year January, CZ stated that Binance’s operations were synonymous with laying a house’s concrete foundation. Apart from the peer-to-peer crypto exchange that Binance started in 2017, the platform has added other margin platforms, lending products, and various services.

The management has declared that Binance has passed the stage of foundation. The company is now building virtual houses, roads, and various landmark infrastructure in the crypto space. The firm states that this is one of its strategic ways of achieving its goals of improving the freedom of money by empowering others.

Multicoin Capital is an independent venture capital firm located in Austin. It majors in investment in crypto assets while it offers its investors exposure to the blockchain space. At present, the company keeps in its custody a vast amount of the RUNE token, which serves as the native coin for an upcoming decentralized market maker.

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