Binance 1 billion fund

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Binance commits another $1 billion to crypto industry recovery fund following FTX�s collapse
Binance has set up a fund to rebuild the crypto industry following the fallout from its peer FTX's collapse earlier this month. Binance 's $1 billion Industry Recovery Initiative (IRI) was designed to rescue the crypto industry post-FTX collapse. In a single transaction on March 13, Binance moved just over $ million BUSD to one of its corporate exchange wallets, called Binance

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But this proof is based on limited information that can be divulged from public blockchains, and is not on par with a full-scale audit. He was also previously director of corporate finance at the Monetary Authority of Singapore. Binance said it is "flexible on the investment structure" and is accepting contributions in tokens, cash and debt. The emergency insurance pot was established in to protect users' funds. The crypto market continues to be under pressure, with bitcoin BTC trading 1.