Dana Hou, head of business strategy and operations at Binance Labs, said the department is currently engaging more actively with crypto project founders. Dana Hou said that Biannce Labs and other venture investors are now more focused on supporting startups that already have actual products and revenue. There was a time when projects would be hyped just because they received venture capital investment, but recently in In the crypto industry, hype is no longer so worrisome.

Dana Hou said that despite the unfavorable regulatory environment this year, Binance Labs will continue to invest in more encryption projects, including projects headquartered in the United States. Binance’s recent layoffs have not affected Binance Labs, and the team is still running stably. According to data analysis published on its official website, Binance Labs has reduced its team members by 10 since January, from 18 to 8. When asked about the departures, Biannce Labs said it would continue to recruit and welcome new members to the team.