Binance is setting up an industry recovery fund to 'reduce further cascading negative effects of FTX,' the CEO said. crypto cryptocurrency
Binance Forming Crypto Industry Recovery Fund to 'Reduce Further Cascading Negative Effects of FTX'
Cryptocurrency exchange Binance is forming an industry recovery fund to “reduce further cascading negative effects of FTX,” said CEO Changpeng Zhao . “As an industry, we need to increase transparency,” the executive stressed. “We need to work very closely with regulators all around the world to make this industry more robust.”Following the collapse of cryptocurrency exchange FTX, Binance announced that it is forming a recovery fund for the crypto industry.
To reduce further cascading negative effects of FTX, Binance is forming an industry recovery fund, to help projects who are otherwise strong, but in a liquidity crisis. “Also welcome other industry players with cash who wants to co-invest,” the Binance boss added. “Crypto is not going away. We are still here. Let’s rebuild.”
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Binance CEO Likens FTX Fiasco to 2008 Financial Crisis — Warns of 'Cascading Effects' – Economics Bitcoin NewsBinance CEO Changpeng Zhao compares the FTX collapse to the 2008 financial crisis, warning of 'cascading effects.' crypto cryptocurrency
Read more »
Binance CEO Announces 'Industry Recovery Fund' Amid FTX Exchange CollapseThe world's largest crypto exchange Binance is forming an 'industry recovery fund' to help projects overcome possible liquidity crises.
Read more »
Binance CEO Reveals Surprising Fact on FTX CollapseBinance CEO exposes shocking fact on FTX collapse FTT Crypto
Read more »
Binance CEO tweets regret at not shorting FTX tokenThe chief executive of Binance said he regretted not betting against the token tied to the failed FTX cryptocurrency exchange
Read more »
Binance Will Delist FTT Margin Pairs, USDⓈ-M Futures Contracts and Binance Flexible Products | Binance SupportIn an effort to protect users, Binance will remove and delist $FTT from the following products: 🔸 Simple Earn Flexible Products 🔸 USDⓈ-M Perpetual contracts 🔸 Cross Margin 🔸 Isolated Margin View settlement and delisting times here ⤵️
Read more »
FTX CEO John Ray Confirms Late-Night Hack, Says Company Is Working With Law EnforcementNew FTX_Official CEO John Ray said the company is “in contact with, and are coordinating with law enforcement and relevant regulators” after last night’s hack. cheyenneligon reports
Read more »