Binance founder and CEO Changpeng Zhao is once again in the global spotlight, this time as the self-appointed white knight of crypto as the industry is embroiled in crisis. The Canadian billionaire has made headlines this week for offering to come to the aid of entrepreneurs who are facing a cash crunch, in efforts to help “rebuild” the sector. Zhao, who goes by his initials “CZ,” made his pitch just days after rescinding an offer to help bail out one of the biggest firms in the space, FTX. The company went bankrupt two days later. Zhao announced Monday that to mitigate any further damage from the collapse of FTX, his team would establish “an industry recovery fund, to help projects who are otherwise strong, but in a liquidity crisis.” Binance, the world’s largest cryptocurrency exchange, would welcome other industry players who’d like to participate as cash investors, he said on Twitter. “Crypto is not going away. We are still here,” Zhao added. “Let’s rebuild.” https://edition.cnn.com/2022/11/15/business/binance-founder-changpeng-zhao-ftx-intl-hnk/index.html?utm_term=link&utm_content=2022-11-16T01%3A00%3A17&utm_medium=social&utm_source=twCNN
https://edition.cnn.com/2022/11/15/business/binance-founder-changpeng-zhao-ftx-intl-hnk/index.html?utm_term=link&utm_content=2022-11-16T01%3A00%3A17&utm_medium=social&utm_source=twCNN