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Crypto exchange Binance has announced the creation of its own fund to help potentially strong projects that are having liquidity issues.
In a tweet, Binance CEO Changpeng Zhao said that the fund aims to reduce the cascading negative effects of the collapse of FTX by helping projects that the Binance CEO described as “strong, but in a liquidity crisis.”
In a comment, he highlighted that the fund is not for FTX, but for other projects within the crypto ecosystem, adding that “liars or fraud never qualify as strong projects.”
The teams that believe they can potentially fit the criteria were advised to contact Binance Labs, the exchange’s venture capital arm.
Crypto is not going away. We are still here. Let's rebuild
CZ tweeted.
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