Binance Labs Clarification: Withdrawing the Abu Dhabi license application is ...

Kabir903 · Post time 13-12-2023 21:39:58

On December 9th, Binance Labs stated that withdrawing the Abu Dhabi license application is unrelated to Binance. The purpose of obtaining the license was to manage funds raised from Limited Partners (LP). However, Binance Labs has decided to focus on incubating early-stage founders and startups, resulting in lower fund utilization. Therefore, Binance Labs has decided to return the funds to LP and cancel the license application, as it is no longer needed by Binance Labs.

Kahn332 · Post time 13-12-2023 21:58:21

This is something that should be returned.

Shri · Post time 14-12-2023 11:34:03

Clarifications sometimes can't clarify much.

Niti998 · Post time 14-12-2023 12:20:02

The funds definitely need to be refunded.

Ritu77 · Post time 14-12-2023 12:38:36

That's something worth applying for, isn't it?