Binance’s bailout fund is a welcome backstop for crypto — but questions remain

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The billion-dollar fund could be a crucial lifeline for the crypto industry, as companies tussle with the aftershocks of FTX’s collapse.

from Jump Crypto, Polygon Ventures, Aptos Labs, Animoca Brands, GSR, Kronos and Brooker Group — promises support for innovative and viable projects that face liquidity issues related to FTX. As of last week, it had already received 150 applications for aid.

The first involves a group of companies — often competitors — collectively refusing to do business with another company. “In practice, it would be surprising if the companies running the fund never communicate, if only to know who has committed to a deal,” Schrepel said.

 

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