Binance CEO Changpeng Zhao (CZ) recently said in an interview that the cryptocurrency exchange is working toward a $1 billion fund to potentially acquire troubled digital assets.
Before diving into this piece, you may want to catch up on some relevant stories, like Google winning a blockchain-based botnet legal case and Curve Finance pulls CrvUSD white paper off.
When asked whether the current allocation was sufficient, CZ said, "If that's not enough, we can assign more."
Zhao proposed a new industry recovery fund last week to help financially stable enterprises in a bind.
According to Zhao, a blog post describing the fund will be released shortly, and Binance has already had discussions with several industry stakeholders. We're taking a "loose approach" in which "various industry actors will participate as they choose," he said.
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