Binance’s $7.5B Portfolio Manager To Invest in Web3.0 Amid Bear Market

• Binance Lab’s portfolio manager, Yi He, sees potential in web 3.0 projects while the crypto market dips.
• The venture capital head is looking to invest in web 3.0 infrastructure, application, data, analytics, security, and more.
• Binance announced it had made a 2,100% return since its founding in 2018.

Binance’s multibillion-dollar portfolio manager, Yi He, who helped found the cryptocurrency exchange with CEO Changpeng Zhao in 2017, declared the dipping crypto market an ideal time to invest in web 3.0 projects.

Yi He was recently announced as the head of the incubator and investment unit of Binance Labs by Zhao who stated, “This is the perfect moment for Yi to take on a larger role in Labs as this market presents an unparalleled opportunity to identify those projects with the tenacity to thrive in tough market conditions.”

The venture capital head simultaneously mentioned she has aggressive plans for the world’s largest cryptocurrency exchange, managing $7.5 billion in assets across 200+ projects for Binance. According to her, the current bear market conditions provide the perfect opportunity to invest in early-stage projects that offer long-term benefits, as well as the tough economic conditions, helping filter the “copycat” projects that only enter the industry to make quick bucks.

In August Binance Labs announced that it had made a 2,100% rate of return since 2018 when it was founded. A part of the returns is a contribution of the various investments the crypto exchange has made including play-to-earn game , layer 2 blockchain Polygon, metaverse game The Sandbox, and move-to-earn app STEPN.

In addition, Binance Labs closed a $500 million investment fund back in June with partners such as internet investment firms DST Global Partners (NYSE:) and Breyer Capital.

The post Binance’s $7.5B Portfolio Manager To Invest in Web3.0 Amid Bear Market appeared first on Coin Edition.

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