Foresight Ventures Pledges $25 Million to BNB Chain Projects; Wintermute Withdraws $40 Million in Solana Before Token Unlock

Foresight Ventures committed up to $25 million to support projects in the BNB Incubation Alliance (BIA) through 2025, as announced on February 24. This investment aims to back early-stage Web3 projects within the BNB Chain ecosystem. The BIA, launched by BNB Chain and YZi Labs, offers mentorship, resources, and funding to accelerate blockchain startups. Simultaneously, Wintermute withdrew over $38.2 million worth of Solana (SOL) from Binance in the 24 hours leading up to 9:02 am UTC on February 24, according to Arkham Intelligence data. This withdrawal occurred before Solana's $2 billion token unlock on March 1, where over 11.2 million SOL tokens will enter circulation. Solana's price dropped by over 7.5% to $155, a three-month low.