Binance Will Invest Over $1B in Business Expansion

Cryptocurrency exchange Binance plans to invest more than $1 billion in business expansion by the end of the year.

According to the exchange CEO Changpeng Zhao, the funds will be invested in the implementation of promising projects.

In addition, Binance plans to increase capital investments in the coming months, despite the onset of the “crypto winter.” The company has already allocated $325 million this year for the implementation of 67 projects.

In 2021, financing of 73 projects amounted to only $140 million.

According to Zhao, his team is investing in the development of the NFT industry, as well as in the modernization of the payment infrastructure.