© Reuters. Bitcoin, Ethereum, Dogecoin Rebound After Binance’s CZ Declares ‘Industry Recovery Funds’ To Ease FTX Ripple Effects
Benzinga – Binance CEO Changpeng “CZ” Zhao’s latest announcement on Twitter has triggered a rebound in the prices of (CRYPTO: BTC), (CRYPTO: ETH) and other cryptocurrencies.
What Happened: CZ said he’s forming an “industry recovery fund” to support “strong” companies and projects that are struggling with liquidity in the aftermath of the collapse of FTX, saying he would reveal more details soon.
To reduce further cascading negative effects of FTX, Binance is forming an industry recovery fund, to help projects who are otherwise strong, but in a liquidity crisis. More details to come soon. In the meantime, please contact Binance Labs if you think you qualify. 1/2
— CZ
