Binance invested in Multicoin Capital

Binance cryptocurrency exchange announced its investment in Multicoin Capital.

Multicoin is a hedge fund thatinvests in crypto startups. As part of the agreement, Binance became a hedge fund partner. The exchange's blog states:

This is our first investment in funds. We will continue to work closely with Multicoin Capital and develop blockchain in different directions.

Other investors in Multicoin – Rabbit Capital, Union Square Ventures, venture capitalistMarc Andreessen and former PayPal COO David Sachs.

Binance CEO Changpeng Zhao said:

Multicoin Capital have extensive experience in working with different assets, not only with bitcoin. They are the best in their field, and we are glad to become their partners.

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