November 25, 2022

Justin Sun Signs Up To Put Capital In Binance’s Crypto Recovery Fund

According to The Block, Tron DOA and its operator Justin Sun have applied to contribute to Binance’s $2 billion crypto recovery fund.

Binance has announced a $2 billion crypto recovery fund in the wake of FTX collapse.

A Tron DOA spokesperson told the news outlet The Block that they have already applied to join the funding initiative by Binance.

Binance had raised the recovery fund from $1 billion to $2 billion.

The crypto recovery fund aims to help innovative projects that are facing liquidity issues because of the collapse of FTX.

Binance hopes to mitigate some of the impact caused by FTX to the crypto industry.

No other major names have been revealed who will be putting up capital in the Binance’s crypto recovery fund.