Main Points Related to Bitcoin, web3, Ethereum, and Cryptocurrency:
- Binance alumni behind decentralized exchange Blum receive financial backing from Binance Labs.
- Blum merges centralized exchange systems with DEX facilities to provide a unique trading experience.
- Binance Labs operates independently after regulatory issues at Binance, with new CEO Richard Teng leading the company.
Binance Labs Backing Decentralized Exchange Blum
Former Binance employees, now part of Blum, announced an investment from Binance Labs to support their decentralized exchange. The funding will go towards enhancing trading infrastructure and development for the platform, which has gained 60 million users since its launch in April.
Blum’s Unique Approach to Trading
Blum differentiates itself by combining centralized exchange features with DEX capabilities to deliver an innovative trading experience. The company’s Telegram mini-app, offering a ‘tap-to-earn’ clicker game to users, aims to expand its audience through gamification. Blum also collaborates with TON-based projects, such as the recent Dogs memecoin airdrop.
Binance Labs’ Transition to Independence
Following regulatory challenges faced by Binance, its investment arm, Binance Labs, became a standalone entity in March. The company now operates independently, with new CEO Richard Teng leading efforts to improve compliance within the crypto industry. Binance Labs’ support for initiatives like Blum highlights its commitment to fostering innovation in the cryptocurrency space.
