Binance CEO Zhao Expresses Strong Interest in a Crypto Recovery Fund
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Binance CEO Changpeng Zhao said on Wednesday that there has been a lot of interest from industry players in a recovery fund his company is planning to launch to help crypto projects that are suffering from a lack of liquidity as a result of the collapse of rival FTX.
Zhao stated at an Abu Dhabi conference that he does not have a specific limit in mind for the size of the recovery fund.
“There are players that have strong financials and we should band together; we’ve got significant interest so far,” he said, declining to name names.
Zhao stated that Binance has healthy reserves but did not specify how much money the company would contribute to the fund.
“Crypto doesn’t need saving,” Zhao stated. “Crypto will be fine.”
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