Aligning with ambitious bear market investment plans underway, Binance Labs, the venture capital arm of the world’s largest crypto exchange, announced that it will lead a Private Round II for GoPlus Security. The value of the investment has not been disclosed.

The new capital injection will be implemented to further develop security data, build a security services marketplace and make new hires for security infrastructure provider Web3.

• According to the official blog post, Go Plus Security also intends to use the funds to launch a security services marketplace in late 2022.
• So far, the startup provides security data to 13 chains.
• Following the development, Yi He, co-founder of Binance and head of Binance Labs, commented:

“Security is critical to the ever-growing Web3 ecosystem and community. By supporting consumer-facing solutions like Goplus Security, we look forward to seeing how end-user security services can evolve and prosper.”

• The move comes days after Binance CEO Changpeng Zhao (CZ) confirmed plans to use a staggering $1 billion reserve in acquisitions and investments.
• According to recent estimates, Binance has already committed over $325 million to over 67 projects this year alone. By contrast, the crypto exchange spent around $140 million on 73 projects throughout 2021 amid a much more bullish crypto market.
• Binance Labs launched a $500 million fund to support promising Web 3 projects and startups with great potential earlier this year.
• Traditional e-commerce and gaming companies will remain on Binance’s radar for potential investment opportunities.