Binance To Launch $1 Billion Dollar Fund To Develop The Binance Smart Chain Ecosystem

Last night we got a big price jump in BNB which seems to be in result of the news that Binance will launch a $1 Billion Dollar Fund To Develop The Binance Smart Chain Ecosystem. Here is an article about it.

https://cointelegraph.com/news/binance-to-launch-1b-fund-to-develop-bsc-ecosystem

Ultimately it is a great thing and a lot of these smart contract platforms have ran heavy incentive programs to support development and liquidity to bridge onto their ecosystems. Fantom, Avalanche, Solana.....etc.

I think it is great and to be honest with you to think about what Block One did with the $4 Billion they raised in their ICO is pretty sickening in a lot of ways. I try to not be too critical because it isn't like they did nothing but they left the community and the developers / block producers high and dry and just took their funds and stacked an insane amount of Bitcoins. At one point I was seeing they had 110,000 BTC and in other reports it was saying 160,000 BTC. The point is they basically just raised the money and focused on just selling the ETH they raised and just stacked a bunch of BTC. There was a class action lawsuit about it which they quickly settled and acted like they didn't have time to be fighting it and that it had no merit but the reality is they look really bad for what they did to their community.

It becomes borderline scammy to do something like that and since I have primarily left the EOS community every so often I see others throw in the towel as well. I saw CypherGlass was going to stop being a block producer.

It would have been pretty unbelievable what the community could have accomplished if they would have committed even $100 Million and obviously a Billion of the 4B they raised.

For me the Binance Smart Chain has been a banger for me. I'm really interested to see if Ethereum will be as capible as the BSC when smart contracts are enabled on the beacon chain (Proof of Stake Ethereum).