Binance Allocates Another $1B for Its Crypto Recovery Fund

joined Binance's initiative and will contribute $50 million to the fund.

The recovery fund would be used to buy distressed crypto assets and support the industry. The crypto market has seen a massive decline since the start of the year, leading to several crypto firms going out of business. The crypto market continues to be under pressure, with BTC trading 1.6% lower during the day, hovering at around $16,400 at the time of writing.

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cz_binance binance parikshitm899 So CZ apparently has a monopoly mindset. Nothing to see here…

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