BNB Hits Another Record Level as Binance Invests $2.4M in Plasm

Binance has mobilized nearly one-quarter of its Polkadot ecosystem fund to lead Plasm Network’s Series A funding round. Binance Labs has led a $2.4 million Series A funding round for Polkadot-based smart contract platform, Plasm Network.Plasm Network's funding round is the first investment made using Binance Labs’ $10 million fund to support projects in the Polkadot ecosystem. Plasm is a leading parachain candidate on Polkadot supporting Ethereum and Layer-2 scaling solutions.Binance Labs is the venture capital and incubator arm of crypto exchange giant Binance. In December 2020, Binance....

The two projects seek to become the forerunners of Cosmos and Polkadot interoperability. Plasm Network and Secret Network, two projects based on Polkadot and Cosmos, respectively, have launched the first iteration of a bridge to connect the two ecosystems, each representing a different “layer-0” protocol.The bridge, deployed on Tuesday on Plasm’s testnet, allows users to transfer assets between Plasm Network and Secret, allowing them to enjoy transaction privacy and use SecretSwap, the first automated market maker exchange on Secret Network. The bridge would allow Plasm users to benefit....

Binance has reported a new record of more than $80 billion in daily volume across its spot and derivatives platforms. Changpeng Zhao, the chief executive of Binance, the world’s largest crypto exchange by trade volume, reported a record of $80 billion in 24-hour trade activity on Jan. 4.On Twitter, CZ compared the recent activity to the volume posted during the last record-breaking bull cycle, noting that the past day of trade equates to four-time the volume processed on the exchange from Nov. 15, 2017 to Dec. 15, 2017.To put this in perspective, from Nov 15, 2017 to Dec 15, 2017, the....

Reports indicate that the world’s largest cryptocurrency exchange by trade volume, Binance, has announced the crypto company has committed to investing $200 million into the American business magazine Forbes. The digital currency company Binance confirmed the $200 million stake into Forbes on the social media platform Twitter. Binance Pledges $200 Million to Forbes Binance has made a $200 million investment into Forbes, the U.S.-based business magazine and digital publisher owned by the Forbes family and Integrated Whale Media Investments. A report published by CNBC, and....

The parent company of Plasm Network and Shiden Network has prioritized development initiatives centered around Polkadot and Kusama. The company received support from over a dozen venture firms and several other angel investors. Stake Technologies Inc., an infrastructure provider for decentralized applications and Web 3.0 protocols, has raised $10 million in strategic investments to help build out the Polkadot and Kusama ecosystems through its wholly owned Plasm and Shiden networks.The funds will be immediately deployed to help Stake Technologies complete a successful parachain lease....