Binance Labs Operations Head: Currently focusing more on supporting startups that already have real products and revenue

ChainCatcher news, Dana Hou, who is responsible for business strategy and operations at Binance Labs, told Bloomberg that the department is currently engaging more actively with founders of crypto projects. Dana Hou stated that despite the unfavorable regulatory environment this year, Binance Labs will continue to invest in more cryptocurrency projects, including those based in the United States. The recent layoffs at Binance have not affected Binance Labs, and the team is still operating steadily.

However, data analysis published on its official website shows that since January, Binance Labs has reduced its team size from 18 members to 8. When asked about the departures, Binance Labs stated that they will continue to hire and welcome new members to the team.

Dana Hou mentioned that Binance Labs and other venture capitalists are now more focused on supporting startups that already have real products and revenue. In the past, there was a time when projects were heavily hyped simply because they received venture capital investment, but recently in the crypto industry, the hype is no longer as concerning.