Binance Launches Billion-Dollar Crypto Industry Recovery Fund to Restore Confidence After FTX Meltdown – Finance Bitcoin News

Several other crypto companies have joined Binance’s efforts and committed capital for the recovery fund.Cryptocurrency exchange Binance unveiled Thursday some details of its Industry Recovery Initiative , which the crypto firm described as “a new co-investment opportunity for organizations eager to support the future of web3.

“So far, Jump Crypto, Polygon Ventures, Aptos Labs, Animoca Brands, GSR, Kronos, and Brooker Group have also committed to participating with an initial aggregate commitment of around USD 50 million, and we expect more participants to join soon,” Binance added. Each participant has set aside committed capital in stablecoins or other tokens.

Binance explained that it will be looking for projects characterized by “innovation and long-term value creation,” “a clearly delineated and viable business model,” and “a laser focus on risk management.”What makes this initiative unique is the collaborative approach to restoring confidence in web3.

senshi_labs NFT collection of samurais trained in the use of weapons to protect their households, family, and honor in times of war

Sounds good but I will continue buying on bfx.

Help will come at a cost, I am sure!

lets call it what it is: The Ass Covering Fund

Don't think the amount is relevant

Is this a fund to be shuffled around to show proof of reserves? Oops* didn't mean to say it out loud

BNB

Thats nice

Thats nice

Thats nice

FACT

Thats nice

Thats nice

Binance take right way but not trut

$LUNC

Binance safe the crypto industry

Thats great, I have recently started using ChiefraFba for signals, his accuracy is INSANE!

Ok, I only listen to ChiefraFba for signals!

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Binance deploys $1 billion to keep crypto industry afloat after FTX collapseBinance said it may increase that amount to $2 billion at a point in time in the future 'if the need arises.' Another domino about to fall. Just like the run on banks before depression Definitely something you would see with a stable store of value
Source: CNBC - 🏆 12. / 72 Read more »

Binance CEO Changpeng Zhao: FTX will set crypto back, but the industry will become healthierBinance CEO Changpeng Zhao joins CNBC's 'Squawk Box' to discuss the collapse of crypto exchange FTX and what it could mean for the crypto industry. 👉 kochikenbsc kochikenbsc He told me his imaginary coin business was legit... cz_binance Lol So teach all of us how you price Bitcoin ? If it can't be honestly priced by some type of solid metric it can't be traded. PS - Gee I hope it goes up is not a metric.
Source: CNBC - 🏆 12. / 72 Read more »

Binance targets $1 billion for 'industry recovery fund'Binance is aiming to amass around $1 billion for its recently announced 'industry recovery fund,' said CEO Changpeng 'CZ' Zhao. cz_binance fact check CCP - CENTRALIZED clearing party Biggest conman of the lot
Source: TheBlock__ - 🏆 464. / 53 Read more »