Binance has announced the “Industry Recovery Initiative” in order to provide financial support to promising companies who are in need.
Binance has announced the formation of what it refers to as an “industry recovery initiative” in the wake of the failure of the cryptocurrency exchange FTX and its sister company, Alameda Research. The fund’s primary objective is to rescue cryptocurrency projects that are facing liquidity issues.
Binance Takes Charge
As a leading player in crypto, Binance has taken the responsibility to lead the charge by establishing the Industry Recovery Initiative (IRI), a new co-investment opportunity for organizations that are eager to support the future of Web3 development.
Binance CEO Changpeng Zhao, commonly known as CZ, shared the public address for Binance’s initial commitment of 1 Billion BUSD in a tweet on Thursday.
Binance has announced the formation of what it refers to as an “industry recovery initiative” in the wake of the failure of the cryptocurrency exchange FTX and its sister company, Alameda Research. The fund’s primary objective is to rescue cryptocurrency projects that are facing liquidity issues.
Binance Takes Charge
As a leading player in crypto, Binance has taken the responsibility to lead the charge by establishing the Industry Recovery Initiative (IRI), a new co-investment opportunity for organizations that are eager to support the future of Web3 development.
Binance CEO Changpeng Zhao, commonly known as CZ, shared the public address for Binance’s initial commitment of 1 Billion BUSD in a tweet on Thursday.
Source : Coingape
