While VCs Remain Anxious, Binance Charges On


The cryptocurrency market has been cruel for 2018, and it has had consequences. One of the consequences has been the weakening relationship between venture capital firms and various cryptocurrency-related companies.

Digital Currency Group (DGC) is one of the most well-known companies in the space and has invested in influential cryptocurrency companies such as Coinbase, and Blockchain. The CEO of DGC, Barry Silbert, has also acknowledged that deals between the two have started falling out.

In fact, one story in particular sums up the current turmoil in the cryptocurrency markets. Coinbase, which is widely considered one of the most influential companies in the cryptocurrency space, and is valued at $8 billion, recently lost a chief policy officer to the well-known venture capital firm Andreessen Horowitz.

However, despite the 2018 market, Binance has been steadily expanding. In addition, the company, which is the world’s largest cryptocurrency exchange by daily volume, is also expanding its incubator across five cities, as well.

Changpeng Zhao, the CEO of Binance, points out that this is because venture capitalist firms are in the business of profiting, without realizing that this might be the best time to invest in a long time. He stated in a tweet that Binance was more “comfortable investing” now than ever: