Binance aims to allocate $1 billion for crypto recovery fund

Binance intends to allocate $1 billion for a proposed industry recovery fund while its CEO revealed intent in a new bid for assets of bankrupt cryptocurrency lending firm Voyager by its U.S.-based business.

Speaking to BloombergTV on Nov. 24, Binance CEO Changpeng Zhao touched on a number of topics in what has been a tumultuous month for the cryptocurrency ecosystem.

Chief among them was Binance’s proposed industry recovery fund which is aimed at providing financial support to promising…

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