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Binance pours in another billion to help crypto

Published

2 years ago

on

November 28, 2022

By

Ahron Young

Crypto exchange Binance has allocated another $1 billion for its industry recovery fund, effectively doubling the size of the fund within just one week.

The additional allocation was announced by Binance’s CEO.

Binance won’t be on its own. Aptos Labs and Jump Crypto, along with other prominent crypto companies joined Binance’s initiative and will contribute $50 million to the fund.

The crypto market has seen a massive decline since the start of the year, leading to several crypto firms going out of business.

The recovery fund will be used to buy distressed crypto assets and support the industry.

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Ahron Young

Ahron Young is an award winning journalist who has covered major news events around the world. Ahron is the Managing Editor and Founder of TICKER NEWS.

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Trump will plead not guilty to revised 2020 election criminal charges

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