Binance Crypto Recovery Fund Gets Another $1B Allocation

Crypto exchange Binance has increased the size of its recovery fund to over $2 billion after allocating another $1 billion for it.

Binance CEO Changpeng "CZ" Zhao announced the additional allocation on Friday.

A day earlier, CZ said that Binance is targeting $1 billion for its crypto recovery fund.

Aptos Labs, Jump Crypto, and other prominent crypto companies have pledged $50 million to the fund.

The recovery fund is meant to buy distressed crypto assets and support the industry.

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