Metaport -Crypto/Blockchain Education for Africans
Metaport -Crypto/Blockchain Education for Africans 1 minutes reading from Bitcoin

Binance Invests $1 Billion in Crypto Startup Cryptsy after FTX Collapse

News 📰: Binance deploys 1 billion to keep crypto industry afloat after FTX collapse

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Cryptocurrency exchange Binance on Thursday announced new details about its industry recovery fund, which aims to prop up struggling players in the wake of FTX’s calamitous bankruptcy.

Binance stated in a blog post that it will make an initial commitment of 1 billion to the recovery fund. The company added that if the need arises, it may eventually increase that amount to 2 billion.

Additionally, investment companies focused on cryptocurrencies like Jump Crypto, Polygon Ventures, and Animoca Brands have committed 50 million to the project.

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