TechFlow news: Binance Labs has issued a statement clarifying media reports regarding the Abu Dhabi license. The statement emphasized that the license is unrelated to the Binance exchange and was originally intended for managing funds raised from limited partners (LPs). However, due to Binance Labs' decision to focus on incubating early-stage founders and startups, the fund saw low utilization. As a result, they have decided to return capital to limited partners and cancel the license, as it no longer aligns with current needs.
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