Binance Labs invests in ARKM, the native token of Arkham platform

Binance Labs, the enterprise capital arm and incubator arm of Binance, stated on Nov. 15 that it has invested in Arkham (ARKM), the native token of the “deanonymizing” blockchain platform Arkham.

The corporate said in a weblog publish on the web site that the funding goals to help “on-chain insights at scale throughout the blockchain ecosystem.”

Arkham’s mission is to deanonymize blockchain transactions and strengthen self-regulation by enabling customers to see anybody’s blockchain transactions utilizing Arkham’s intelligence platform, Binance Labs stated within the publish. Based mostly on the proprietary synthetic intelligence (AI) engine referred to as ULTRA — which “algorithmically matches addresses with real-world entities” — the Arkham platform permits customers to trace entity relationships and circulation funds, the announcement famous.

The VC platform additionally talked about that Arkham launched one of many world’s first on-chain intelligence exchanges, the Arkham Intel Trade. The instrument is a “decentralized intelligence financial system” that matches patrons and sellers of blockchain intelligence and permits customers to generate intelligence to seize worth for his or her work in alternate for the ARKM token.

Associated: UK passes bill to enable authorities to seize Bitcoin used for crime

Binance Labs didn’t disclose the phrases of the ARKM deal within the announcement. Amid the information, the ARKM token has jumped greater than 30% over the previous 24 hours, with its market worth reaching an all-time excessive of $100 million on Nov. 15, according to knowledge from CoinGecko.

On the time of writing, ARKM is buying and selling $0.58, up greater than 70% over the previous 30 days.

Binance Labs didn’t instantly reply to Cointelegraph’s request for remark.

Journal: Beyond crypto: Zero-knowledge proofs show potential from voting to finance