Cryptocurrency

Binance’s CZ Reportedly in Talks with Abu Dhabi Investors on Industry Recovery Fund



Binance’s CEO, Changpeng Zhao (CZ), reportedly met with investors from Abu Dhabi to discuss the recently announced cryptocurrency industry recovery fund.

  •  The CEO of the world’s leading exchange met with Abu Dhabi investors to discuss the crypto industry recovery fund.
  • According to a Bloomberg report, a spokesperson from Binance said the meeting was primarily focused on how local regulators can lead the “globe by exploring more aggressive proof of custody requirements.”
  • Per the coverage, CZ made an effort to raise money for the recovery fund that he announced earlier in November.
  • As CryptoPotato reported, Binance’s CEO said back then:

To reduce further cascading negative effects of FTX, Binance is forming an industry recovery fund, to help projects who are otherwise strong, but in a liquidity crisis. More details to come soon. In the meantime, please contact Binance Labs if you think you qualify.

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