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Binance Labs collects $500M fund to invest in Web3, blockchain

The venture capital arm of crypto exchange Binance, Binance Labs has raised $500 million to establish a fund that will invest in blockchain firms and Web3. According to a blog post on Wednesday, DST Global Partners, Breyer Capital, Whampoa Group and other private equity funds all partook in the raise. Binance CEO Changpeng ‘CZ’ Zhao…