Cointime

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.

LBank
Comments

All Comments

Recommended for you

  • BTC Surpasses $78,000

    Market data shows that BTC has surpassed $78,000, currently priced at $78,042.78, with a 24-hour increase of 0.69%. The market is experiencing significant volatility, so please ensure proper risk management.

  • Trump: Does Not Believe Shooting Incident is Related to Iran Conflict

    On April 26, U.S. President Trump stated (when asked if the shooting incident was related to the Iran conflict) that he does not believe so. (Jinshi)

  • Latest Progress on DeFi United Ecological Rescue Initiative: Over 100,000 ETH Raised at Designated Donation Address

    On April 26, the DeFi United ecological rescue initiative, led by Aave, continues to advance. The Arbitrum DAO has released 30,765 ETH that was frozen after the rsETH incident on April 18. Currently, the designated donation address has raised a total of 100,360 ETH to address the collateral asset gap caused by the rsETH incident. The plan aims to restore the backing assets of rsETH through multi-party collaboration, stabilize the market, and prevent the spread of bad debts across protocols. The funds will be used to support the restoration of collateral rates and to gradually normalize the market in conjunction with relevant protocols. Key contributors or participants currently include: Arbitrum DAO releasing 30,765 ETH frozen after the rsETH incident, Mantle proposing to contribute 30,000 ETH, Aave DAO proposing to contribute 25,000 ETH, Aave founder Stani Kulechov confirming a contribution of 5,000 ETH, EtherFi proposing to provide 5,000 ETH, Lido proposing to provide 2,500 stETH, and the Golem Foundation and related projects contributing a total of 1,000 ETH, among others. Additionally, LayerZero, Ethena, Frax Finance, and Ink Foundation have also confirmed their participation, although the specific amounts have not yet been disclosed. It is important to note that the progress of this rescue initiative still relies on several external key conditions, including KelpDAO's restoration of rsETH redemptions and the Arbitrum Security Council's release of frozen assets, resulting in uncertainty regarding the overall recovery time and effectiveness.

  • Trump Evacuated from White House Correspondents' Dinner Due to Security Incident

    On April 26, local time April 25, U.S. President Trump was urgently evacuated from the White House Correspondents' Dinner due to a security incident. (CCTV News)

  • Shooting Incident at White House Correspondents' Dinner; Gunman Dead

    On April 26, local time on April 25, a shooting incident occurred in the hall of the White House Correspondents' Dinner, and the gunman is now deceased. (CCTV News)

  • Trump States He Will Not Allow Banks to Undermine Cryptocurrency Market Legislation

    On April 26, CoinDesk reported, citing attendees at a Trump cryptocurrency event, that Trump stated he would not allow banks to undermine cryptocurrency market legislation.

  • Iranian Officials to Depart Pakistan Without Meeting U.S. Representatives

    On April 25, according to a reporter from the New York Post: The Iranian delegation is set to leave Islamabad, the capital of Pakistan, and has consistently emphasized that they did not meet with U.S. officials during their brief visit.

  • Foreign Media: Second Round of Iran-U.S. Talks Scheduled for April 27

    On April 25, according to New Delhi Television: The second round of talks between Iran and the United States is scheduled to take place on April 27.

  • Iranian Lawmaker: Comprehensive Plan for Managing the Strait of Hormuz Formed

    On April 25, according to a report by Iran's Mehr News Agency, Iranian Islamic Parliament member Behnam Saidi stated that Iran has developed a comprehensive plan for managing the Strait of Hormuz. In an interview with Mehr News Agency, Saidi mentioned that an important aspect of this plan is the exclusive recognition of the name 'Persian Gulf' in all correspondence and commercial documents, rejecting any other names. Vessels and ships navigating in the region must obtain permission from Iran. Sovereignty over the Strait of Hormuz will be entirely under Iran's control. He also stated that vessels identified as hostile by the Supreme National Security Council or the General Staff of the Armed Forces of Iran are not allowed to pass through the Strait of Hormuz, and Israeli vessels are absolutely prohibited from entering the area. Ships passing through the region must pay relevant fees concerning safety, environmental protection, shipping management, and licensing, with priority given to payments in rials.

  • DeepSeek Plans to Raise $1.8 Billion with a Valuation of Approximately $20 Billion

    Sources reveal that the main reason for DeepSeek's current fundraising effort is the significant recent talent loss. Several core researchers have left the company to join ByteDance, Tencent, Xiaomi, and autonomous driving company Yuanrong Qihang. Meanwhile, competitors Zhiyu Technology and MiniMax have listed on the Hong Kong Stock Exchange, and the company Dark Side of the Moon has completed three rounds of financing in the first three months of this year, with a valuation more than quadrupling since the end of last year.

Daily Must-Read

Popular Activities

RaveDAO at Terra Solis by Tomorrowland: A Female-Led Techno Night Where Web3 Culture Converges

RaveDAO at Terra Solis by Tomorrowland: A Female-Led Techno Night Where Web3 Culture Converges

April 30 - April 30
Dubai

Popular Tags

Cointime
News
Contents
RSS
Company