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Binance to commit US$1 billion for crypto recovery initiative

Channel News Asia LogoChannel News Asia2 mo ago

Binance to commit US$1 billion for crypto recovery initiative - Channel News Asia

Quick Summary:

Cryptocurrency exchange Binance said on Thursday (Nov 24) it was committing US$1 billion to establishing an industry recovery initiative (IRI) to invest in companies from the digital assets sector.

He said such a fund would help "reduce further cascading negative effects of FTX" without giving an exact figure for the fund.

Binance said it intends to ramp up its commitment amount to US$2 billion in the near future depending on need.


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Article Details

Category: Economy

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-11-24 @ 16:49:00 (2 months ago)

News Timezone: GMT +8:00

Ranking: #1913 (out of 2681 stories this day)

News Source URL: channelnewsasia.com

Language: English

Article Length: 344 words

Reading Time: 2 minutes read

Sentences: 14 lines

Sentence Length: 25 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Channel News Asia

News ID: 1914243

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About Channel News Asia

Channel News Asia Logo

Main Topics: EconomyBusiness

Official Website: channelnewsasia.com

Update Frequency: 31 posts per day

Year Established: 1999

Headquarters: Singapore

News Last Updated: 29 minutes ago

Coverage Areas: Singapore

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Local / Regional

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #27

Publisher Details

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The story "Binance to commit US$1 billion for crypto recovery initiative" was covered 2 months ago by Channel News Asia, a news publisher based in Singapore.

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Channel News Asia is a fully independent (privately-owned) news outlet established in 1999 that covers mostly economy and business news.

The outlet is headquartered in Singapore and publishes an average of 31 news stories per day.

It's most recent story was published 29 minutes ago.

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  • URL: https://beamstart.com/news/binance-to-commit-us1-billion-16693108592121

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