[Exclusive] Multicoin Capital: Binance Investment began negotiations at the end of last year

The mainstream crypto exchange Binance has become a limited partner in the Multicoin Capital crypto fund. This is the first time that Binance has invested in an external fund.

In an exclusive interview with Bitpush, Multicoin Capital spokesman John Robert Reed revealed that they and Binance have been talking about investing since the end of last year.

Reed also stated that this is not the first time Binance and Multicoin have collaborated, “We have a great relationship.”

“Over the years, we've worked closely with Binance in many different capacities. We started exploring Binance in 2018, and we published a paper on Binance in February 2019.”

The paper Reed mentioned was “Binance Coin ($BNB) Analysis and Evaluation”, written by Tushar Jain. Jain is Multicoin Capital's managing partner, and he leads Multicoin Capital's portfolio building, risk management, and team management.

Jain stated in the report: “We believe Binance is leading the race to become the world's leading crypto exchange. We also think Binance's token, BNB, is greatly undervalued because it is a novel asset with many characteristics that investors are not fully aware of.”

At the time of publication of the paper, the price of Binance Coin was only around $10; today, Binance Coin has risen to $239.

Reed said the investment marks Binance's trust in Multicoin Capital.

Regarding Multicoin's future investment strategy after that, Reed emphasized: “We will continue to implement an investment strategy based on theoretical orientation.”

The exact amount of Binance's investment in Multicoin this time has not been disclosed.

Photo Credit: Multicoin Capital;

Author Sara Zhang

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