NAUT tracks 12 crypto exchange venture arms, the investment arms run by trading venues such as Binance, Coinbase, OKX and MEXC, and holds 704 backed round records for them across 482 distinct companies as of 7 November 2026. Ranked by average round size, FTX Ventures leads at $113,557,143 across 21 rounds and Coinbase Ventures is second at $30,222,350 across 185, and Coinbase Ventures is the 1 of the 12 whose NAUT record carries a round dated in 2026.
How this list was built: on 7 November 2026, NAUT read every investor row that names an exchange as its parent in its own description, plus every investor row carrying the "CEX (Centralized Exchange)" sector tag or the Exchange fund type, and kept a row only when its own description says it is the venture, incubation or investment arm of a named exchange, or that it is the exchange itself putting money into rounds. The tags alone do not find this list: 7 of the 12 funds carry no CEX sector tag at all, and the Exchange fund type misses Binance Labs (typed Incubation), Kraken Ventures and OKX Ventures (both typed Venture). 4 tagged rows were set aside for a reason of their own: Gnosis carries the CEX tag while its own description is an Ethereum layer, wallet and payments business, so it is not an exchange venture arm; Bitpanda carries the tag with 0 portfolio companies and no backed round record, so it cannot be ranked by average round; WOO DAO carries the tag while its own description is the token-holder governance body of the WOO ecosystem rather than a branded fund; and NEXO carries the tag while its own description is a lending and crypto-card platform. Each of those 4 is a count of 1.
2 more data notes, both from NAUT's own records. NAUT lists the Gate.io arm under 2 rows, Gate.io Labs with 85 round records and Gate Labs with 10, which share 5 companies; the figures below are the union of the 2 rows, 91 round records and 90 companies, and the link goes to the fuller Gate.io Labs row. HTX Ventures and Huobi Ventures are kept as separate funds because each has its own page and its own backed rounds, and Huobi Ventures' stored description claims the Huobi Capital history that belongs to the HTX Ventures row, a defect flagged on the record rather than corrected here.
Average round size is computed from each fund's own round records on NAUT, over the records that carry an amount. A fund page's stored average field can lag those records: for HTX Ventures and MEXC Ventures the stored field sits below the figure its own rounds produce, so the computed figure is used. 11 of the 12 funds had 1 round record put to public sources, and the results are in the Sources section.
Which crypto exchange venture arms back the biggest rounds?
Ranked by average round size across the round records that carry an amount, highest first. Every fund's name carries its exchange, so the exchange has no column of its own. "Rounds" counts every backed round record on the fund's NAUT page, with the number carrying a disclosed amount in brackets. Amounts round to $0.1M.
| Fund | Avg round | Rounds | Biggest round |
|---|---|---|---|
 FTX Ventures |
$113.6M | 21 (21) |  Yuga Labs, $450.0M |
 Coinbase Ventures |
$30.2M | 185 (177) | FTX, $900.0M |
 Bitfinex |
$28.0M | 1 (1) |  Stable, $28.0M |
 Binance Labs |
$16.5M | 105 (75) |  Sui, $300.0M |
 HTX Ventures |
$15.0M | 76 (76) |  Monad, $225.0M |
 Crypto.com Capital |
$13.3M | 29 (29) |  ZkSync, $50.0M |
 Kraken Ventures |
$11.7M | 15 (15) |  Hashflow, $25.0M |
 OKX Ventures |
$9.7M | 134 (120) |  LayerZero, $120.0M |
 Huobi Ventures |
$7.5M | 3 (3) |  Biconomy, $9.0M |
 Gate.io Labs |
$5.9M | 91 (87) |  Portal to Bitcoin, $34.0M |
 MEXC Ventures |
$5.4M | 43 (41) |  WOO Network, $30.0M |
 Bitmart Fund |
$0.45M | 1 (1) |  goodcryptoX, $0.45M |
Across the 12, the 646 records that carry an amount add up to $12,617,275,012. 2 rows need their own reading. Coinbase Ventures' largest record is FTX's own $900,000,000 Series B of July 2021, which NAUT files against the FTX Ventures row, so that round sits on both funds' pages. FTX Ventures itself is defunct: Wikipedia's page says that "Since November 11, 2022, FTX has been in Chapter 11 bankruptcy proceedings in the US court system." Its last dated round on NAUT is 13 September 2022, a round in Doodles. Its $113,557,143 average is a record of what it wrote between 2020 and 2022.
Both the chart and the table round each average to 1 decimal place in units of $1,000,000; the exact figures are in the text and the FAQ below, where FTX Ventures averages $113,557,143 and Coinbase Ventures $30,222,350. The 2 single-round funds, Bitfinex at $28,000,000 and Bitmart Fund at $450,000, sit at the top and the bottom of the chart on 1 record each, which is why round count belongs next to any average.
Which crypto exchange venture arms are still backing rounds?
38 of the 704 round records carry a date of 1 January 2025 or later, and 11 of those are dated in 2026. All 11 belong to Coinbase Ventures. 161 of the 704 records carry no announcement date at all, so a fund's newest dated round is the newest NAUT can place on a calendar, not necessarily its newest deal. In the table, "Newest round" is the fund's newest round record carrying a date, "2025+" is its round records dated 1 January 2025 or later, and "Company" is the company in that newest dated round.
| Fund | Newest round | 2025+ | Company |
|---|---|---|---|
| Coinbase Ventures |
26 Oct 2026 | 16 | MochaTrade (no page link on file) |
| Crypto.com Capital |
21 Nov 2025 | 3 |  RateX_Dex |
| Gate.io Labs |
21 Nov 2025 | 6 | RateX_Dex |
| OKX Ventures |
29 Oct 2025 | 4 |  Aria Protocol |
| Binance Labs |
21 Oct 2025 | 4 |  Sign |
| HTX Ventures |
26 Aug 2025 | 1 |  Hyperbot |
| MEXC Ventures |
26 Aug 2025 | 2 | Hyperbot |
| Bitfinex |
31 Jul 2025 | 1 | Stable |
| Kraken Ventures |
15 Jan 2025 | 1 |  WalletConnect |
| FTX Ventures |
13 Sep 2022 | 0 |  Doodles |
| Huobi Ventures |
15 Feb 2022 | 0 |  Guru Network |
| Bitmart Fund |
No dated round | 0 | goodcryptoX |
For a founder, that table is the shortlist in order. Coinbase Ventures' 2026 records include a $110,000,000 Series C in Jeeves on 29 September 2026 and a $57,000,000 extended Series B in Kaiko on 14 September 2026, so the fund is writing at growth size as well as seed. The 2 funds with no record after 2022, FTX Ventures and Huobi Ventures, are history pages worth reading for co-investor names and nothing else.
Which companies do 2 or more crypto exchange venture arms back?
106 of the 482 companies have 2 or more of these 12 funds on their NAUT record, and 8 of them have 4. The "Arms" column below counts those arms. That is the most useful fact in this data for anyone raising or selling, because it shows which exchange venture capital desks sit on the same cap tables.
BounceBit
bitsCrunch
zkLink
Neptune Mutual
Unite
MomentumThe table lists all 8 companies with 4 arms on their record plus 1 of the 98 with 2 or 3. Each company page lists every backer NAUT holds for the round, which is where a co-investor list for an exchange arm starts.
What this tells a BD team selling to crypto exchange investors
- The addressable list is 482 companies, not 12 funds. Every one of those companies has a NAUT page with its round record and, where NAUT holds them, the people on its team.
- Volume sits in 4 funds. Coinbase Ventures (185 records), OKX Ventures (134), Binance Labs (105) and Gate.io Labs (91) hold 515 of the 704 records between them, so a portfolio-wide campaign starts on those 4 pages.
- Recency sits in 1. Of the 12, Coinbase Ventures is the single fund carrying a 2026-dated round on NAUT, so a "just funded" trigger list from exchange arms is a Coinbase Ventures list on this data.
- 106 companies carry 2 or more of these arms, so a reference from 1 exchange arm's portfolio often travels to another.
- Start with the 4 busiestCoinbase Ventures (185 records), OKX Ventures (134), Binance Labs (105) and Gate.io Labs (91) hold 515 of the 704 round records.
- Filter on a date38 records are dated 1 January 2025 or later, and the 11 dated in 2026 all sit with Coinbase Ventures.
- Pick the shared cap tables106 of the 482 companies have 2 or more of these arms, among them LayerZero and BounceBit.
- Find the personOpen each company's NAUT page for its team, then pull the same rows through the API below.
What a founder raising from exchange venture capital should read here
- Match the cheque to the average. A pitch sized at $5,000,000 fits MEXC Ventures at a $5,362,927 average or Gate.io Labs at $5,869,425 better than Coinbase Ventures at $30,222,350.
- Check the newest dated round before you write. 2 of the 12, FTX Ventures and Huobi Ventures, have no dated record after 2022, and FTX Ventures is in Chapter 11 proceedings.
- Read the largest round on file as the ceiling NAUT can evidence, not a cap: Monad at $225,000,000 for HTX Ventures and LayerZero at $120,000,000 for OKX Ventures are the biggest each has on record.
- An exchange arm on the cap table is a listing conversation as well as a funding one, so ask which team at the exchange the fund introduces founders to.
Related reading on NAUT: Corporate crypto investors: 16 funds of 98 NAUT tags Corporate and Coinbase Ventures portfolio: 152 companies tracked on NAUT.
Can you pull this data through the NAUT API?
Yes. The fund list behind this article comes back from GET https://api.naut.so/v1/investors?q=ventures&sort=portfolio, and 1 fund's full round record, each row carrying the company, round type, amount, announce date and lead flag, comes back from GET https://api.naut.so/v1/investors/coinbase-ventures, both with an Authorization: Bearer $NAUT_KEY header at 5 credits a call. Keys are minted at naut.so/developer and plans run from Essential at $49 a month for 3,000 credits, listed at naut.so/pricing. Verified Telegram, email and LinkedIn for the people at these funds and their portfolio companies unlock on any paid NAUT plan, so start a 7-day trial to open them.
Crypto exchange venture arms FAQ
Which crypto exchanges have a venture arm?
As of 7 November 2026, NAUT tracks 12 crypto exchange venture arms with backed round records: Coinbase Ventures, OKX Ventures, Binance Labs, Gate.io Labs, HTX Ventures, MEXC Ventures, Crypto.com Capital, FTX Ventures, Kraken Ventures, Huobi Ventures, Bitfinex and Bitmart Fund. Together they hold 704 backed round records across 482 distinct companies.
Which exchange venture arm writes the biggest rounds?
FTX Ventures has the highest average round on NAUT at $113,557,143 across 21 records, but the fund is defunct and its last dated round is 13 September 2022. Among the funds with a round dated 1 January 2025 or later, Coinbase Ventures is highest at a $30,222,350 average across 185 records.
Are crypto exchange venture arms still investing?
On NAUT's records as of 7 November 2026, 9 of the 12 crypto exchange venture funds have a round dated 1 January 2025 or later, and 1 of the 12, Coinbase Ventures, has a round dated in 2026. 161 of the 704 records carry no announcement date, so a fund with an older newest-dated round may still have undated deals on file.
Where can I find these exchange venture arms and the people who run them?
Each of the 12 funds has a NAUT page with its backed rounds, its portfolio companies and the people NAUT holds for it, and the same rows come back from GET https://api.naut.so/v1/investors/coinbase-ventures at 5 credits a call. The 482 portfolio companies each have their own NAUT page with their round record and team. Verified Telegram, email and LinkedIn unlock on any paid NAUT plan, so start a 7-day trial to reach them.
Sources
- All fund figures, round counts, company counts, amounts and dates: NAUT's data, read on 7 November 2026. Average round size is computed from each fund's own round records over the records carrying an amount.
- 11 of the 12 funds had 1 round record put to public sources on 7 November 2026, 1 record each. Bitmart Fund's single round was not checked. 9 of the 11 came back confirmed: Sui's $300,000,000 Series B with Binance Labs (Binance blog, with The Block as the second source); Monad's $225,000,000 round, where the company's own announcement says "we are thrilled to announce our $225M fundraise" and lists HTX Ventures among the investors (monad.xyz); LayerZero's $120,000,000 Series B, where the release says the round closed "with 33 investors" and names OKX Ventures among them (PR Newswire); FTX's $900,000,000 Series B with Coinbase Ventures among the investors, reported at an $18,000,000,000 valuation (Fortune, with Axios as the second source); ZkSync's $50,000,000 Series B, built by Matter Labs, in which the report names Crypto.com as a new investor (Cointelegraph, with TechCrunch as the second source); Hashflow's $25,000,000 Series A with Kraken Ventures among the investors (The Block, with FinSMEs as the second source); Portal to Bitcoin's $34,000,000 seed round with Gate.io among the investors (CoinDesk, with Fortune as the second source); Bitfinex co-leading Stable's $28,000,000 seed round (CoinDesk); and FTX Ventures in Yuga Labs' $450,000,000 round, where the report says "Other investors included Animoca Brands, FTX and MoonPay, as well as LionTree, Sound Ventures and Thrive Capital." (Cointelegraph, with SiliconAngle as the second source).
- 2 of the 11 came back contradicted and are left out of the claims above, both on the identity of the backer. The source for WOO Network's $30,000,000 Series A names MEXC Global, not MEXC Ventures (CoinDesk), and the source for Biconomy's $9,000,000 round names Huobi Innovation Labs, not Huobi Ventures (CoinDesk). Both rounds stay in the table as NAUT's own record, and both backer names are flagged as records to recheck.
- FTX's bankruptcy: Wikipedia, which says "Since November 11, 2022, FTX has been in Chapter 11 bankruptcy proceedings in the US court system."