Venture capital companies Polygon Ventures and Animoca Brands, as well as GSR, Kronos, and Brooker Group, join trading company Jump Crypto and Aptos Labs, the organization behind the recently established Aptos blockchain, in making contributions to the fund. These companies are committed to participating with an initial aggregate commitment of around $50 million.
Following a downturn that has wracked the industry for the past 12 months, the fund will be used to purchase distressed crypto assets. This is the outcome of the recessions caused by FTX, 3AC, or Terra.
In the future, Binance intends to raise the fund to $2 billion, the statement states. Changpeng Zhao, CEO of Binance, remarked in a recent interview with Bloomberg.
“If that’s not enough we can allocate more.”
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Harold
Coincu News
London, UK, May 10th, 2024, ChainwireKintsu, a leading innovator in the DeFi space, is thrilled…
KuCoin resumes operations in India after paying a $41,000 penalty, while Binance registration in India…
Telegram trading bots represent a growing trend in cryptocurrency trading, offering both publicly and privately…
Notable contenders leading the charge in Ethereum ETF applications include VanEck, BlackRock, and ARK Invest,…
Nyan Heroes Airdrop has become a trending topic, hailed as the hottest AAA shooter game…
Slow Mist founder exposes TON phishing messages, which users tricked into believing they receive cheap…
This website uses cookies.