2022-11-25
Binance is targeting $1 billion or more for its previously announced recovery fund to buy problematic crypto assets, according to CEO Changpeng "CZ" Zhao in an interview with Bloomberg Television on Thursday.
ref. CZ 🔶 Binance on Twitter
“If that’s not enough we can allocate more,” CZ said, as a report.
Last week,
CZ announced that Binance would launch a recovery fund "to assist projects
that are strong but in a liquidity crisis."
All of his
actions were in order to build customers’ trust back in the
cryptocurrency market again after FTX’s collapse.
“We do this transparently,” CZ said on his social media.
ref. CZ 🔶 Binance on Twitter
ref. coindesk
