Binance CEO Changpeng Zhao made a number of announcements on November 24, during an interview with Bloomberg Television’s Haslinda Amin. With this data, it seems that Binance intends to support the cryptocurrency ecosystem after a month of severe turmoil. Check out the two major CZ ads.
A $1 billion fund to save the crypto space
Changpeng Zhao announce that his exchange is considering allocating $1 billion for a cryptocurrency recovery fund. He explained that detailed information about the fund will soon be available on the Binance blog. The CEO argues so The fund will start operating before the end of this year. Moreover, he revealed that he took a “soft approach” to create a project to save the crypto industry.
In fact, Czechoslovakia said:There were discussions about how to structure this fund – should we make it a free fund or a real fund? I think we have chosen a flexible approach in which the different players in the sector can contribute as they like.It is likely that several members of the crypto space will give their input to the project.
Moreover, the funds It can be viewed in general. Actors are expected to transfer files Contributions to a centralized and transparent blockchain address. According to the roadmap provided by CZ, the fund should allow the cryptocurrency industry to recover after six months.
Remember that the Fund’s offer comes with the aim of providing financial support for promising projects that need it. Changpeng Zhao announced this project after the stunning crash of the FTX exchange.
Binance will present a new offer for crypto lender Voyager Digital
During his interview, CZ also revealed that Binance.US is planning a new offering for Voyager Digital. The exchange could reach a more advantageous deal to buy back the assets from the bankrupt cryptocurrency lender.
On the other hand, cz He indicated that his company plans to reconsider the possibility View deals for specific FTX companies. According to him, some of the projects launched by the bankrupt stock exchange have potential and can be “saved”.
Binance is developing various projects to help the crypto space recover from the recent events that rocked it. The crypto community can only hope that these projects will quickly reach their goal.
Get a summary of the news in the cryptocurrency world by subscribing to our new serviceDaily and weekly so you don’t miss any of the essential Cointribune!
Far from dampening my enthusiasm, an unsuccessful investment in cryptocurrency in 2017 only fueled my enthusiasm. So I resolved to study and understand the blockchain and its many uses and pass on my pen information related to this ecosystem.