Data Vantage: Vertex’s Binance exit, Conversant's funding, and other updates

Vertex Ventures Southeast Asia & India and Vertex Ventures China have exited their investment in the Singapore affiliate of cryptocurrency exchange Binance, according to regulatory filings.

The funds, which are part of Temasek-backed Vertex Holdings’ global VC network, transferred their stakes in Binance Asia Services to Ireland-based Binance (Services) Holdings on Monday. The development coincided with Binance’s announcement that it was withdrawing its application to run a licensed crypto exchange in Singapore.

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