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Binance Labs Doubles Down on Aptos Bet Ahead of Blockchain Launch

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

By Danny Nelson
AccessTimeIconSep 15, 2022 at 2:57 p.m. UTC
Updated May 11, 2023 at 4:21 p.m. UTC
Aptos Labs now had a valuation of $4 billion. (Horst Schwalm/Pixabay)
Aptos Labs now had a valuation of $4 billion. (Horst Schwalm/Pixabay)
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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.

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    • 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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    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Danny Nelson
    Danny Nelson

    Danny is CoinDesk's Managing Editor for Data & Tokens. He owns BTC, ETH and SOL.

    Follow @realDannyNelson on Twitter

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