FTX Latest: Binance CEO Plans Recovery Fund, Laments Bad Actors
Zhao said the fund is intended to prop up investor confidence following the dramatic collapse of Sam Bankman-Fried’s FTX crypto exchange.
Cryptocurrency prices rallied Monday after Binance Holdings Ltd.'s Chief Executive Officer Changpeng Zhao announced plans to launch a crypto recovery fund to help industry players facing a liquidity crunch. Bitcoin edged towards $17,000 following Zhao's announcement. Zhao said the fund is intended to prop up investor confidence following the dramatic collapse of Sam Bankman-Fried's…