analysis binance zhao industry recovery initiative

analysis binance zhao industry recovery initiative pepe unchain Bnb Eth XRP aave Bitcoin Bonk

What is Binance's industry recovery initiative?

Called the Industry Recovery Initiative, the fund was teased by Binance earlier this month after the collapse of rival FTX. Changpeng Zhao, Binance's founder, said then it was forming the fund "to reduce further cascading negative effects of FTX."

What happens if Binance's investigation goes against Zhao and Binance?

The stakes are high for the deeply troubled crypto sector. If the investigation goes against Binance and Zhao, it could loosen Binance's grip on the industry. Its hold has been strengthened by the recent collapse of rival exchange FTX.

Does Binance have a recovery fund?

Binance on Thursday unveiled a $1 billion commitment to an industry recovery fund. (Lanna Apisukh/Bloomberg News) Binance, the world's largest cryptocurrency exchange, pledged $1 billion to a recovery fund that will help promising crypto companies and projects that are in financial distress.

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