Binance Labs recently took to Twitter to clear up misunderstandings about their decision to withdraw an unused Abu Dhabi license. In their own words, "This had nothing to do with the Binance exchange." Initially, the license was aimed at managing funds raised from Limited Partners (LPs). However, Binance Labs has shifted its focus towards "incubating early-stage founders and startups," leading to a low utilization of the fund. Consequently, they decided to "return the money to LPs and cancel the license since we didn’t need it."
