Bitcoin's price skyrocketed on the news that Binance will be forming an industry recovery fund following the FTX fallout.
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. More details to come soon. In the meantime, please contact Binance Labs if you think you qualify.
This had a very positive impact on the entire market, as Bitcoin’s price skyrocketed to almost $17,000.There’s no information as to what projects the fund will be investing in, but one thing is for sure – CZ has no intentions of helping FTX.Hey, you misread the tweet, I think. Liars or fraud never qualify as strong projects. This is for other projects in the ecosystem.
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