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Binance establishes $1 billion fund to fast-track blockchain tech adoption

Binance cryptocurrency exchange has announced the launch of a $1 billion fund to develop and support the Binance Smart Chain (BSC) ecosystem.

The fund is divided into four categories:
1. $100 Million Talent Development;
2. $100 Million Liquidity Incentive Program;
3. $300 Million Builder & Incubation Program;
4. $500 Million Investment Program.

The latter category is focused on funding startups from various fields, including games and applications from the virtual reality and metaverse segments.

"With the $1 billion initiative, our focus will be widened to building cross-chain and multi-chain infrastructures integrated with different types of blockchains," Gwendolyn Regina, investment director of BSC Accelerator Fund said in a statement.

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