Venture Capital Firm Symbolic Capital Deposits $12.15 Million in Crypto to Binance
CryptoNewsTerminal Staff04 Aug, 2024
Venture Capital Firm Symbolic Capital Deposits $12.15 Million in Crypto to Binance
Symbolic Capital, a venture capital firm co-founded by Polygon co-founder Sandeep Nailwal, has deposited $121.5 million worth of cryptocurrency to Binance in the past 9 hours. The funds, which include 4,446 ETH and 10.56 million USDT, were transferred to Binance's hot wallet. The reason for the transfer is still unknown, but it could be related to a new investment or partnership. Symbolic Capital is a venture capital firm that invests in early-stage blockchain and crypto companies. The firm has invested in a number of high-profile projects, including Polygon, Solana, and NEAR Protocol. Binance is the world's largest cryptocurrency exchange. The exchange offers a wide range of trading pairs and features, and it is known for its low fees and high liquidity. The transfer of funds from Symbolic Capital to Binance could be a sign of growing interest in the cryptocurrency market from venture capital firms. In recent months, a number of venture capital firms have announced plans to invest in cryptocurrency and blockchain projects. This is a positive sign for the cryptocurrency market, as it could lead to increased investment and innovation.
