Cointime

Download App
iOS & Android

LBank Labs Establishes Blockchain And Crypto Investment Fund to Support The Development of Web3 in Africa

Cointime Official

Blockchain Crypto Investment Group, LBank Labs, announces the establishment of their new crypto investment fund targeted towards web3 development in Africa. LBank Labs plans to establish a series of regional development funds, including regions such as Korea, South East Asia, and more. This is the first of the sequence of new investment funds from LBank Labs.

Africa is one of the areas with a lot of untapped potential for blockchain expansion. With new member Czhang on board LBank Labs, the investment institution is looking globally. Czhang is currently visiting many countries in North Africa and followed by other regions in the continent. Throughout November, Czhang, as a representative of LBank Labs, will be talking with potential African collaborators.

LBank has been pushing educational efforts in the MENA region for some time, having community managers in Nigeria, Ghana, Tunisia, and more. LBank has also expanded to other areas, recruiting community managers in Cameroon, Kenya, and so on.

About LBank Labs

LBank Labs is an independent blockchain investment institution under the top global crypto exchange LBank. LBank Labs currently has a total fund size of 50 million USDT. Registered in Asia’s crypto hub Singapore, LBank Labs includes Venture Capital, Hedge Funds, and also Fund of Funds. Since its inception, LBank Labs invested in many quality early-stage public-chain projects such as VEN and NEO. Starting in 2020, LBank Labs invested in nearly 100 ecological projects such as Polkadot, NFT, and Solana.

About LBank

LBank is one of the top crypto exchanges, established in 2015. It offers its users specialized financial derivatives, expert asset management services, and safe crypto trading. The platform holds over 7 million users from more than 210 regions worldwide. LBank is a cutting-edge growing platform that ensures the integrity of users’ funds and aims to contribute to the global adoption of cryptocurrencies.

Comments

All Comments

Recommended for you

  • Lumoz supports Op Stack + ZK Fraud Proof, Initiating a New Paradigm in L2 Architecture

    After completing a total of tens of millions of dollars in financing, the modular computing layer Lumoz continues to make strides in the Layer 2 (L2) space. This week, Lumoz announced that its Modular Compute Layer will support the Op Stack + ZK Fraud Proof Layer 2 architecture, initiating a new paradigm in L2 architecture.

  • Scammers use Google to promote fake Whales Market website to steal cryptocurrency

    According to a report from BleepingComputer, threat actors have discovered a method where scammers use Google's platform to promote phishing websites impersonating Whales Market in order to steal cryptocurrency. These fraudulent websites are placed as sponsored links (i.e. advertisements) at the top of Google search result pages, and despite the domain address displayed on the search result page appearing to be real, users will be redirected to the fake website upon clicking.

  • Bitcoin Halving Happens This Week: HTX Liquid Restaking with New Momentum Fuels Your Crypto Growth

    The highly anticipated Bitcoin halving event is expected to arrive on April 20, 2024. As the block reward falls from 6.25 to 3.125, the cryptocurrency market will undergo a significant shift. Investors worldwide are seeking new ways to maximize their returns in this dynamic landscape.

  • Cyvers: Hedgey suffered the same vulnerability on Arbitrum and lost about $42.8 million

    Cyvers Alerts on X platform stated that the system detected that the financial derivative agreement Hedgey Finance executed the same vulnerability on the ARB chain and gained approximately 42.8 million US dollars in profit.

  • Tether issues 1 billion USDT on Ethereum (authorized but not yet issued)

    Whale Alert has monitored Tether Treasury's addition of 1 billion USDT on Ethereum. Tether CEO Paolo Ardoino stated that this 1 billion USDT is a supplement to Ethereum inventory. This is an authorized but unissued transaction, which means that this issuance will be used for the next issuance request and cross-chain exchange inventory.

  • CertiK: Hedgey vulnerability was exploited and $1.9 million was stolen

    CertiK Alert posted on social media that it has detected that the on-chain token infrastructure protocol Hedgey has been exploited and stolen approximately 1.9 million US dollars.The attacker abused the createLockedCampaign function in flash loans to obtain approval for the use of tokens on the victim's contract. The USDC, NOBL, and MASA tokens in the victim's contract have been depleted.

  • Binance executives' bail application postponed again, still in custody

    The bail hearing for Binance executive Tigran Gambaryan has been postponed again by a Nigerian court, and he remains detained at the Kuje Correctional Center. The hearing is now scheduled for April 22, with the EFCC requesting time to respond to new arguments from the defense. Gambaryan's lawyer criticized the prosecution for failing to respond promptly. Binance has been accused of concealing the source of its income, while Gambaryan is accused of money laundering. In addition, he has also filed a lawsuit against the government for violating his human rights.

  • BTC breaks through $64,000

    The market shows BTC breaking through $64,000, now reporting at $64,012.44, with an intraday increase of 4.95%. The market fluctuates greatly, so please be prepared for risk control.

  • SEC accuses Justin Sun of frequent trips to the U.S. to sell tokens

    The US SEC has amended its lawsuit against Tron founder Sun Yuchen, stating that his frequent travel to multiple locations in the US allows the court to have corresponding jurisdiction. The SEC accuses Sun Yuchen and his company of selling unregistered securities through Tron and BitTorrent (BTT) tokens and engaging in manipulative money laundering transactions. The SEC claims that Sun Yuchen spent more than 380 days in the US from 2017 to 2019, with travel destinations including New York, Boston, and San Francisco. Sun Yuchen argues that the token sales were conducted entirely overseas, avoiding the US market, and therefore the SEC has no jurisdiction over him and the Tron Foundation, which is headquartered in Singapore. (Cointelegraph)

  • Cyvers Alerts: Multiple phishing transactions detected this morning

    Cyvers Alerts reported on X platform that multiple phishing transactions were discovered by the system this morning. The victims have approved the external owned accounts (EOA) of the phishers. We strongly recommend revoking the relevant approvals.