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.
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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