Binance has set up a fund to rebuild the crypto industry following the fallout from its peer FTX’s collapse earlier this month, which will entail a $1 billion commitment from the crypto exchange giant.
It comes after Binance founder Changpeng Zhao told Bloomberg on Thursday that he regretted not tweeting about FTX sooner. Binance said it’s open to “exploring other deal structures”, targeting traditional financial institutions that may not be able to send money to a public address.
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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 »