At the start of this week, Binance CEO Changpeng Zhao announced his plans to launch an industry recovery fund to support the projects that are affected by the liquidity crisis after FTX collapsed. During today’s crypto conference at Abu Dhabi Global Market, CZ claimed that the exact amount for the industry recovery fund is still unknown and many other investors have shown interest to support the move.
However, CZ has refused to name other crypto exchanges and investors who have come forward to support Binance. On the other hand he said that the complete details on Crypto industry recovery fund will be disclosed in the next two weeks.
Source: https://coinpedia.org/crypto-live-news/binance-ceo-to-give-out-complete-details-on-industry-recovery-fund-in-the-next-two-weeks/