Dana Hou, who is in charge of business strategy and operations at Binance Labs, stated during an interview with Bloomberg on November 15 that the hub is presently engaging more intensively with crypto project founders. Despite the challenging regulatory environment of the past year, Binance Labs remains committed to investing in a broad array of cryptocurrency projects, inclusive of those headquartered in the United States.
Moreover, the recent layoffs at Binance have not impacted Binance Labs, which continues to operate stably. Nonetheless, analyses of data displayed on Binance Labs' official website reveal a reduction in team size, down 10 members from 18 to 8 as of January. In response to queries concerning these departures, Binance Labs has stated its continuous commitment to team expansion, encouraging new talent to join their ranks.
According to Dana Hou, Binance Labs and other venture capitalists have refocused their strategy on supporting startups that are already revenue-generating and have actual products. Previously, projects gained hype solely from receiving venture capital investments, but the current trend in the crypto industry seems to have moved away from unwarranted hype.