Key Takeaways Binance Labs has separated from Binance exchange, establishing itself as an independent venture capital fund with a portfolio worth over $10 billion. The firm is dedicated to investing in and supporting early-stage Web3 projects, offering mentorship and resources through its incubation program. Noteworthy investments include Ethena, a project that has seen significant success and controversy with its high-yield USDe synthetic dollar, showcasing the impact of Binance Labs' strategic investments in the Web3 ecosystem.