Yi He, who along with Changpeng Zhao helped found the Binance cryptocurrency exchange in 2017, is now the head of the company’s venture capital arm. She believes that the current period of falling markets and challenging economic conditions is the ideal time to look for profitable web3 ventures that the company can invest in.
A little more than a month ago, Binance made the announcement that the company’s co-founder had been promoted to the position of head of Binance Labs, the company’s venture capital and incubation division. In this role, the co-founder was to be responsible for the global strategy and day-to-day operations of Binance Labs.
Binance Labs is now the industry’s biggest crypto-asset venture capital business thanks to its management of a total of assets worth $7.5 billion at this time, according to the company.
Binance Labs will concentrate on investing in more talented, long-term-minded entrepreneurs and people who will define the future of the industry. Yi he has said that her ambition is to encourage the widespread use of Web3 and blockchain technology by developing blockchain industry standards.
Yi He will continue to manage and assist key Binance companies and departments, including customer service, institutional business, marketing, Binance C2C, and Binance Wealth Management, in addition to Binance Labs, which she will continue to oversee.
In her words:
We all know it’s a good investment opportunity in a bear market, as many teams that only look to make some quick money would be forced out of the industry. It’s good timing now to support those who really want to run a good business and believe in this industry.
