The head of Binance Labs, the venture capital arm of cryptocurrency exchange Binance, is about to leave the firm, according to a report.

Bill Qian is set to leave the firm soon, the Block reported, citing several people familiar with the matter. The firm’s executive director, Nicole Zhang, also left the firm last month, according to her LinkedIn profile.

Earlier this week, Binance Labs raised a $500 million fund to invest in upcoming web 3 and blockchain firms.

The fund received investment from DST Global Partners, Breyer Capital, Whampoa Group and other private equity funds.

Binance did not respond to request for comment, at press time.

Read more about


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Read More