In the crypto sphere, Binance is a well-known name. It represents the most used exchange platform in the world, with a certain lead over these competitors.
The volume traded daily on Binance currently stands at over $11 billion. The second largest exchange, Coinbase, sees 1 billion traded on its platform every day.
The number 1 exchange is always up for new things and investments that allow its ecosystem to evolve and improve. Despite a market in crisis for months, Binance is not faltering and remains camped on its leading position.
At a time when many competitors are laying off or restricting their activities, the exchange platform launched by Changpeng Zhao (CZ) continues to hire and invest in large-scale projects.
For example, this year, Binance became one of the largest shareholders of Forbes media by investing 200 million in the American magazine to help it list on the stock market.
Binance has also announced that it is ready to contribute to the takeover of Twitter by Elon Musk by putting $500 million on the table.
Changpeng Zhao (CZ) is enthusiastic about DeFi with Binance
In addition to these sizeable investments, the CEO of Binance said that he is currently investing heavily in DeFi (Decentralized Finance). The platform’s investments, apart from Forbes and Twitter, are mainly oriented towards DeFi and NFTs.
According to CZ, he currently favors investments in these branches rather than in digital currencies as he may have done in the past.
Currently, the total amount of Binance’s investment in DeFi would amount to $325 million divided into no less than 67 different projects.
These amounts turn out to be much higher than what the crypto company achieved in 2021 ($140 million invested in 73 projects).
By the end of the year, this investment will have been greatly exceeded and could amount to more than a billion dollars!
The crisis does exist throughout the crypto market but it seems that some are very optimistic about the outcome of this crisis and the usefulness of cryptos, NFTs and DeFi in the future.