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Binance allocates 2 billion to save the industry 🤔





Exchange Binance on Thursday announced new details about its recovery fund set up to safeguard the genuineness of the crypto sector that aims to support players in trouble in the wake of the disastrous FTX fiasco.


Binance CEO Changpeng Zhao shared his public wallet address showing his commitment and stating, "We do it in a transparent way. "


Binance's attempt to keep the cryptocurrency industry afloat after FTX filed for a fall within this month, however, seems to be a huge flop, and day by day new problems arise for the industry, all apparently triggered by the same CZ Tweet ("FTX has liquidity problems.")

Zhao stated earlier that it is his intention to prevent further "cascading contagion effects" from FTX's collapse. Impossible not to recall that the last firm to make a similar statement was the SBF exchange itself with regard to the Celsius and BlockFi case ... needless to recall its demise.



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