What’s happening with Binance’s $2 billion recovery fund?
Binance made a big deal about its $2 billion so-called Industry Recovery Initiative. But why are those funds still unspent?
Cryptocurrency news by Protos · Protos
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Show Notes
After the collapse of FTX, Binance enjoyed several weeks of glowing press coverage about its commitment to spend $1 billion on helping the crypto industry. However, it appears that the wallet in question still holds nearly $1 billion BUSD and hasn’t spent anything.
In its initial announcement on November 24, 2022, Binance claimed that 150 companies had applied to this so-called Industry Recovery Initiative so it’s possible that Binance is still evaluating applicants and will disburse funds sometime in the future.
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