Being an airdrop farmer I take announcements from FKA Binance Labs seriously because most times Binance invest in upcoming crypto projects. Binance has invested in more than 10% of all the crypto projects in the crypto space. Before FTX went bankrupt and crashed, Binance was a huge investor. I used to be mad at Binance because I felt like they weren’t helping the crypto community enough even though they benefited from it, but I was wrong because they are huge investors in lots of crypto projects that have helped the crypto community.
Ever since CZ was arrested last year, 2024 or 2023, can’t remember, they have been huge changes in the Binance ecosystem. BUSD was delisted, which sucked because I actually liked BUSD, more stable and was backed by Binance. CZ stepped down as the CEO of Binance, now Binance lab is rebranding to YZi Labs, this is for a lot of reasons, I think it’s major reason is because it wants to be seen as an independent entity.
I saw the announcement this afternoon, the moment I saw Binance labs, I didn’t bother reading the next content because I immediately assumed it was another crypto project that Binance labs just funded. So I entered their twitter and turns out I follow them already. I felt something wasn’t right he because, why am I following this account, checked the bio and saw rebranded Binance lab, and I immediately thought that I clicked on a scam account. This is why you should read things properly before you assume.