AUCTION
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Binance Labs invested in BounceBit, which mainly deals with Bitcoin's Restake and CeDeFi. BounceBit wants to make Bitcoin more convenient to use through a safer and more transparent CeDeFi method.
Binance Labs is a department of Binance that specializes in venture capital. This investment is also part of their support for the development of the DeFi field. Although Binance is a centralized exchange, they actually prefer to invest in companies and projects that do DeFi.
In short, Binance Labs is optimistic about BounceBit and believes that they can make Bitcoin more useful, so they decided to invest in this company. This is also an example of how Binance has been promoting the development of the DeFi field.
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