Binance creates industry recovery fund to help projects struggling with liquidity

Binance CEO Changpeng Zhao clarified that the project is for other potentially strong projects and not FTX, saying that “liars or fraud” would never qualify.

As the effects of the FTX crisis continue to affect the markets negatively, crypto exchange Binance is creating a fund to help potentially strong projects that are having liquidity issues. 

In a tweet, Binance CEO Changpeng Zhao said 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.” https://cointelegraph.com/news/binance-creates-industry-recovery-fund-to-help-projects-struggling-with-liquidity

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