The CEO of crypto exchange Binance is dismissing a report claiming he met with investors in Abu Dhabi in an effort to raise cash for the company’s crypto recovery fund.
According to Bloomberg, CZ and others affiliated with Binance discussed raising cash for its proposed fund.
The aim was to help with potential liquidity issues.
The CEO and his Binance team reportedly met with potential backers associated with the UAE’s National Security Adviser.
The Binance CEO first announced the fund on Nov. 14 following FTX’s “liquidity crunch” and bankruptcy filing.
FTX’s bankruptcy filings suggested the firm owed more than $3 billion, while it had slightly more than $1.2 billion in cash.
