TechFlow news, according to Bloomberg, Dana Hou, who oversees business strategy and operations at Binance Labs, said that despite an unfavorable regulatory environment this year, Binance Labs will continue investing in more cryptocurrency projects, including those headquartered in the United States.
She added that recent layoffs at Binance have not affected Binance Labs, and the team remains stable. According to data analysis from its official website, Binance Labs has reduced its team by 10 members since January, shrinking from 18 to 8 employees. When asked about the departures, Binance Labs stated it will continue hiring new team members.
Dana Hou said Binance Labs and other venture investors are now more focused on supporting startups that already have actual products and revenue. She also noted that in the past, projects were hyped merely for securing venture capital funding, but such hype is no longer a concern in today's crypto industry.
