Last year, regulators in Japan and Germany also alerted consumers the exchange was unlicensed.
Binance Labs now has a disclaimer on its website describing it as “an independent venture and not part of the Binance Group.”
Now operating as an independent entity, Binance Labs has invested in over 200 crypto projects with its assets valued at over $10 billion.
The price of bitcoin has dropped by over 8% in the past 24 hours to now stand just above the $67,000 mark.
Outflows from gold exchange-traded funds and a surge in bitcoin ETF inflows fueled speculation investors were shifting from the precious metal into the cryptocurrency.
The platform lets users start their own networks on Bitcoin and is offering developers millions of dollars as grant rewards.
There are a number of key catalysts for the company, and these include ETF net inflows, the development of GalaxyOne and a potential Nasdaq listing, the report said.
Senators say that retail investors face “enormous risks” from such products because thin order books for some cryptocurrencies.
The Foundation first said in December it would invest in meme coin as part of a digital culture drive.
The 90-day and 52-week correlation between bitcoin and Nasdaq-listed chip maker Nvidia is well above 0.80.
