Binance, the global cryptocurrency exchange, has officially spun off its venture capital arm, Binance Labs, into an independent entity earlier this year, with operations starting since the beginning of 2024. The move, which involved the division now operating separately from the Binance Group, was part of a strategic decision to allow the venture capital arm to focus on its investment operations without direct involvement in the group's activities. Despite the separation, Binance Labs has been granted authorization to continue using the Binance brand. This restructuring, reported by Bloomberg and under the leadership of Binance's new CEO, Richard Teng, involves a significant amount of capital, with Binance Labs being valued at $10 billion. The decision to spin off the venture capital arm was highlighted for its independence and the continuation of its investment activities separate from the parent company.