Former executives of the cryptocurrency exchange Binance announced the creation of a $100 million crypto fund.
The Old Fashion Research fund was founded in late 2021 by former Binance vice president of mergers and acquisitions Ling Zhang and Binance head of corporate development Wayne Fu.
While at Binance, Zhang led acquisitions and investments in FTX, Multicoin Capital and CertiK.
The fund previously worked confidentially and has already supported more than 50 blockchain projects since its inception, including the Woo Network trading platform, the NFT game Genopets and the ZetaChain platform.
“We are very excited to come out of the shadows with our new foundation and help build the next generation of decentralized Web3 applications. The OFR team has solid knowledge and extensive experience in M&A, investment and incubation through our experience in building a successful portfolio for Binance,” said Zhang.