Binance Labs invests in ARKM, the native token of Arkham platform
Binance Labs, the venture capital arm of Binance Exchange, has invested in ARKM, the native token of the crypto intelligence platform Arkham.
Binance Labs, the venture capital arm and incubator arm of crypto exchange Binance, said on Nov. 15 that it has invested in ARKM, the native token of the “deanonymizing” blockchain platform Arkham.
The company said in a blog post on the website that the investment aims to support “on-chain insights at scale across the blockchain ecosystem.”
“Arkham’s proprietary technology advances how on-chain intelligence is produced and shared,” Binance Labs investment director Alex Odagiu told Cointelegraph. The platform allows individuals or organizations to do their own research, in addition to enabling users to participate in the intelligence economy with rewards powered by the ARKM token, the executive added.
Arkham’s mission is to deanonymize blockchain transactions and strengthen self-regulation by enabling users to see anyone’s blockchain transactions using its intelligence platform, Binance Labs said in the post. Based on the proprietary artificial intelligence (AI) engine known as ULTRA — which “algorithmically matches addresses with real-world entities” — the Arkham platform enables users to track entity relationships and flow funds, the announcement noted.
Binance Labs also mentioned that Arkham introduced one of the world’s first on-chain intelligence exchanges, the Arkham Intel Exchange. The tool is a “decentralized intelligence economy” that matches buyers and sellers of blockchain intelligence and allows users to generate intelligence to capture value for their work in exchange for the ARKM token.
Related: UK passes bill to enable authorities to seize Bitcoin used for crime
Binance Labs declined to specify the amount of the investment to Cointelegraph. Amid the news, the ARKM token has jumped more than 30% over the past 24 hours, with its market value reaching an all-time high of $100 million on Nov. 15, according to data from CoinGecko.
At the time of writing, ARKM is trading $0.58, up more than 70% over the past 30 days.
Magazine: Beyond crypto: Zero-knowledge proofs show potential from voting to finance
