Binance starts recovery fund for crypto projects facing liquidity crisis

Binance CEO Changpeng “CZ” Zhao says that his exchange is setting up an industry recovery fund to help rebuild the industry.

CZ said that more details will be announced in the coming days, and said that the fund is open to industry co-investors. Tron founder Justin Sun said that Tron, Huobi Global and Poloniex will support Binance in its initiative. Huobi Global also confirmed this in a tweet.