Sunday, November 27, 2022

Binance deploys $1 billion to keep crypto industry afloat after FTX collapse

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  • Binance said it will devote $1 billion in initial commitments to the recovery fund.
  • It may increase that amount to $2 billion at a point in time in the future “if the need arises,” the company added.
  • Since FTX’s rapid winddown, investors have worried about a crypto contagion affecting every corner of the industry.

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Disclaimer: This story is generated from RSS Feed and has not been created or edited by Waba News. Publisher: CNBC

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