Binance Labs, the venture arm of cryptocurrency exchange Binance, has invested $5 million in Curve (CRV), the namesake token of the decentralized stablecoin trading platform.
“Curve is the largest stableswap and second-largest DEX [decentralized exchange], with approximately $2.4B in total value locked and $215M in daily volume at the time of writing,” Binance Labs said in the Aug. 10 announcement. Yi He, Binance’s co-founder and head of Binance Labs, said the firm is pledging its full support to the DEX “given recent events that have impacted the protocol.”
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