Head of Binance Labs Operations: Currently more focused on supporting early-stage companies that already have actual products and revenue.

On November 15th, Dana Hou, responsible for Binance Labs' business strategy and operations, stated to Bloomberg that the department is currently engaging more actively with cryptocurrency project founders. Despite unfavorable regulatory conditions this year, Binance Labs will continue to invest in more cryptocurrency projects, including those based in the United States. Binance's recent layoffs have not affected Binance Labs, and the team is still operating steadily. However, data analysis published on its official website shows that Binance Labs has reduced its team members from 18 to 8 since January, losing 10 members. When asked about the situation, Binance Labs stated that they will continue to recruit and welcome new members to join the team. Dana Hou also stated that Binance Labs and other venture capitalists are now more focused on supporting startups that already have actual products and revenue. In the past, projects were often hyped up solely because they received investment from venture capitalists, but recent developments in the cryptocurrency industry have made such hype less concerning.