, crypto exchange Binance is creating a fund to help potentially strong projects that are having liquidity issues.that the fund aims to reduce the cascading negative effects of the collapse of FTX by helping projects that the Binance CEO described as “strong, but in a liquidity crisis.”
While Zhao did not provide all the information on which projects would qualify, he told teams who believe they may fit the criteria to contact Binance Labs, the exchange’s venture capital arm. He also called upon other industry players interested in co-investing to get in touch with them. “Crypto is not going away. We are still here. Let's rebuild,” Zhao wrote.
Meanwhile they just caused a liquidity crisis by dumping FTT. While FTX had some serious shit going on, if Binance really cared (enough to create an industry recover fund) they would have tried to save FTX or at least see what was going on. Predatory.
Good thoughts
From where is coming the liquidity in a liquidity crisis?.. Or is he expecting people to just put their money there?.. Or money from people who doesnt know their money is there?🤔 ..
A trap for binance play whit other trading plataform . Dont have a doubt cz win a lot of money shorting ftt token .
So it won’t even protect theselves interesting… 🤌🤌
Its only an intent for now, lets wait what really this fund will do. and if it really gonna happen. Dont trust, verify. one of the rules of crypto.
Looks like CZ is a scammer, pump and dump. 1.He new market would crash when he announced FTT selling, so he(binance) sold before, 2.waited for the dip, bought. 3.Than announced he will buy FTX, sold. 4.Said he wouldn't buy it, bought the dip. 5.Announced fund, sold.
First he spreads fud and declare that most of the competitors are thieves and then want to help them. He is doing unfair business practices and it's definitely illegal in most of the country of the world!