• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer
  • Upcoming Events
    • TWS, Singapore (July 28-29, 2025)
    • WFIS, Philippines (September 23-24, 2025)
    • Forex Expo Dubai (October 6-7, 2025)
    • Merge Madrid (October 7-9, 2025)
    • European Blockchain Convention, Barcelona (October 15-17, 2025)
    • Blockchain Futurist Conference, Florida (November 5-6, 2025)
    • WFIS, Indonesia (November 25-26, 2025)
  • Past Events
    • Blockchain Life
    • BlockShow Europe
    • Event Horizon

Crypto Reporter

Online magazine about cryptocurrencies, NFTs, DeFi, GameFi and other blockchain technologies

Join us on Telegram: https://t.me/crypto_reporter
  • News
    • News Feed
    • Cryptocurrencies
      • Bitcoin
      • Altcoins
    • Payment solutions
    • Exchanges
      • Binance
      • bitFlyer
      • Bitfinex
      • CBOE
      • CME
      • Coinbase
      • Coincheck
      • Coinfloor
      • Nasdaq
      • Poloniex
    • Regulations
      • Australia
      • Belarus
      • China
      • Europe
      • India
      • Iran
      • Israel
      • Japan
      • North Korea
      • Philippines
      • Portugal
      • Russia
      • South Korea
      • Thailand
      • Turkey
      • Venezuela
      • Vietnam
      • United States
    • Blockchain platforms
    • Crypto news in brief
    • Stats & trends
    • Reviews
      • Ambrosus
      • ATN
      • Dash
      • Green Power Exchange
      • Power Ledger
      • ShapeShift
      • Waltonchain
      • Cryptocurrency market capitalization can top 4 trillion USD, under conservative estimates
    • Opinion
    • Sponsored
  • Press Releases

Binance launches recovery fund for distressed crypto assets

November 26, 2022 By Crypto Reporter

In an interview with Bloomberg on November 24, Binance CEO Changpeng Zhao (CZ) said the firm intends to allocate $1 billion for a proposed industry recovery fund.

According to CZ, the fund would have a “loose” structure and be publicly visible on the blockchain, with other industry players also able to contribute.

One day later, on November 25, CZ revealed that Binance allocated another $1 billion to the fund.

The fund is an attempt by Binance to keep the crypto industry afloat after controversial entrepreneur Sam Bankman-Fried’s exchange FTX filed for bankruptcy earlier this month.

Around 150 companies have already applied for support from the fund, Binance said in its blog.

Filed Under: General News, Latest News, News Tagged With: Binance, cryptocurrency, news

Primary Sidebar

Follow Us

Press Releases

SAFETY Launches “Safety Hub,” a Human-Centered Token Mining Platform, to Redefine Digital Participation

July 9, 2025

zondacrypto Swiss Launches: A Crypto On and Off-Ramp For Everyday People

July 9, 2025

Elliptic announces integration with Starknet

July 9, 2025

Why Meme Coin Traders Are Choosing Bonk (BONK) and Little Pepe (LILPEPE) Over Shiba Inu (SHIB) and Pepe Coin (PEPE) in 2025

July 9, 2025

Solana and Toncoin Investors Diversify Into This Ethereum Token Below $1, Experts Says It Has Potential for 100X ROI

July 9, 2025

TWS Conference

Forex Expo Dubai

Merge Madrid

Futurist Conference

Footer

Crypto Reporter is an online magazine about cryptocurrencies, NFTs, DeFi, GameFi and other blockchain technologies
About us
Contact us
Submit press-release

Search

2017-2025 Crypto Reporter