Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Cryptocurrencies

Binance Labs invests in BIO Protocol to revolutionize decentralized science

Source Cryptopolitan

Binance Labs, the crypto exchange’s venture capital arm, has invested in decentralized science (DeSci) by backing the BIO Protocol. This accelerator is designed to help early-stage scientific research startups access decentralized funding opportunities.

BIO Protocol expands its BioDAO network

BIO Protocol promotes a network of Biotech Decentralized Autonomous Organizations (BioDAOs), which form communities to fund, develop, and co-own innovative pharmaceuticals and therapies. According to Binance Labs, BioDAOs solve gaps in traditional funding for rare diseases, longevity research, and emergent health concerns.

The details of the investment’s exact amount were not disclosed, but it will enable BIO Protocol to grow its network by providing seed funding for new projects and strengthening community and tokenomics support. Binance Labs’ Investment Director Andy Chang commented:

“BIO Protocol represents a significant step forward in DeSci by merging biotechnology and DeFi. At Binance Labs, we are dedicated to unlocking groundbreaking advancements that drive long-term, real-world impact by supporting projects building meaningful technology.”

~Andy Chang

Binance Labs has more than 200 projects in its portfolio, most of which contribute to the development of decentralized finance. However, some involve gaming, artificial intelligence, and other sectors. For instance, Binance Labs supports Pluto Studio, which established the popular tap-to-earn Telegram mini-app Catizen.

Binance Labs and BIO Protocol to support IP-driven DAOs

BIO Protocol’s network of eight BioDAOs had a market capitalization of $200 million in November 2023. As co-founder of the Molecule platform, BIO Protocol’s Paul Kohlhaas introduced intellectual property non-fungible tokens (IP-NFTs). The protocol supports the sale of IP-NFTs.

One of BIO Protocol’s cornerstone projects, longevity-focused VitaDAO, was founded in 2021. In February 2023, it obtained $4.1 million in funding from pharmaceutical manufacturer Pfizer and supported the launch of Matrix Biosciences in October.

According to Binance Labs, the protocol’s next batch will feature projects to find a cure for Long COVID and rare diseases and build quantum microscopes to examine quantum biological processes.

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

October hike odds climb toward 60% as Goldman and BofA both flip — what Warsh's "dose of accommodation" really changed Rate futures now price roughly 55% to 62% for a 25bp hike at the October 27-28 FOMC, up from about 30% before Chair Warsh's post-meeting framing that the Fed is merely "removing some accommodation." Goldman Sachs has added an October hike to its forecast and Bank of America now sees moves in both October and December. Here is the repricing, the language behind it, and the two data points that decide it.

Author Irene Q.

Sep 23, Wed

Rate futures now price roughly 55% to 62% for a 25bp hike at the October 27-28 FOMC, up from about 30% before Chair Warsh's post-meeting framing that the Fed is merely "removing some accommodation." Goldman Sachs has added an October hike to its forecast and Bank of America now sees moves in both October and December. Here is the repricing, the language behind it, and the two data points that decide it.

Four jobs reports in five days: what JOLTS, ADP, claims and the September payrolls mean for the October Fed decision The US labour market faces its densest data week of the month. JOLTS job openings land Tuesday (7.2 million expected), ADP on Wednesday (70,000 expected), initial claims on Thursday and the September non-farm payrolls on Friday (100,000 expected, down from 162,000). Markets price a 64%-70% chance of another quarter-point Fed hike on October 28. The dollar index sits at 100.77 and the S&P 500 at 7,729.8.

Author Mitrade

Sep 28, Mon

The US labour market faces its densest data week of the month. JOLTS job openings land Tuesday (7.2 million expected), ADP on Wednesday (70,000 expected), initial claims on Thursday and the September non-farm payrolls on Friday (100,000 expected, down from 162,000). Markets price a 64%-70% chance of another quarter-point Fed hike on October 28. The dollar index sits at 100.77 and the S&P 500 at 7,729.8.

【Daily Brief】30-year Treasury tops 5.59%, S&P 500 slips to 7,670 and gold holds $4,180 — PCE lands tonight The 30-year Treasury yield closed at 5.59%, its highest since June 2002, and the Dow fell 131.59 points to 51,349.92. US consumer confidence dropped to 81.9, a 12-year low, and JOLTS job openings fell to 7.1 million. August PCE and Q3 GDP both land at 8:30am ET tonight.

Author Suzie

Sep 30, Wed

The 30-year Treasury yield closed at 5.59%, its highest since June 2002, and the Dow fell 131.59 points to 51,349.92. US consumer confidence dropped to 81.9, a 12-year low, and JOLTS job openings fell to 7.1 million. August PCE and Q3 GDP both land at 8:30am ET tonight.

Gold falls to near $4,150 as higher Treasury yields, oil prices outweigh softer PCE inflation Gold price (XAU/USD) tumbles to near $4,150 during the early Asian session on Thursday, pressured by elevated US Treasury bond yields. Traders await the US September employment data for fresh impetus, which will be released later on Friday.

Author FXStreet

Yesterday 01: 26

Gold price (XAU/USD) tumbles to near $4,150 during the early Asian session on Thursday, pressured by elevated US Treasury bond yields. Traders await the US September employment data for fresh impetus, which will be released later on Friday.

United States Dollar Index sits near March 2025 highs, above 102.00 ahead of US NFP The US Dollar Index (DXY), which tracks the Greenback against a basket of currencies, attracts buyers for the fifth straight day and climbs back above the 102.00 mark during the Asian session on Friday.

Author FXStreet

9 hours ago

The US Dollar Index (DXY), which tracks the Greenback against a basket of currencies, attracts buyers for the fifth straight day and climbs back above the 102.00 mark during the Asian session on Friday.

Popular Symbols