By
Chimamanda U. Martha
April 25th, 2024
There are no statements from Binance as it is against the company’s policy to comment publicly on such matters.
Recent reports suggest that Bill Qian, the head of Binance Labs, may be set to leave the firm. While the reason(s) for his departure has not yet been officially disclosed, this is the second time in just a few weeks that a top executive is leaving the Binance company.
Binance Loses 2 Top Executives in Less than a Month
Bill Qian of Binance Labs – the venture capital arm of crypto exchange Binance, seems set to follow in the footsteps of his former colleague, Nicole Zhang.
Last month, Zhang, who was the company’s executive director at the time, left in a similar manner. However, the news of her exit only made headlines because her LinkedIn profile said so. Bill Qian on the other hand is yet to confirm any of the reports concerning his exit. However, inside sources who are familiar with the situation, say he will be leaving soon as well.
According to one Binance spokesperson who spoke to TheBlock, it’s against the company’s policy to comment publicly on such matters. However, he said in part:
“We can confirm that Bill is leaving Binance for personal reasons.”
For what it’s worth, Zhang and Qian worked for the firm for just a little above two years. Qian was the first to join the company in March 2020. He made the move from China’s JD Group where he served as investment head for over five years. At least, that’s what his LinkedIn profile claims.
Zhang would later join Binance Labs a month later, when she was onboarded as executive director in April 2020. After leaving the company, however, Zhang now works in partnership with a fintech-based venture capital (VC) firm Lingfeng Capital. And here, she is in charge of managing the VC’s investment funds.
Laser Focus on Web3.0
Earlier this week, Coinspeaker announced that Binance Labs has raised a $500 million fund However, the fund is mainly to invest in upcoming web 3 projects and bolster blockchain adoption in general.
The funding round saw participation from investment firms such as Breyer Capital, DST Global Partners, Whampoa Group and a few other private equity funds.
At publication, efforts to get Binance to comment on the reports have proven abortive.