Tron DAO And Justin Sun Bid To Contribute To Binance Recovery Fund

Billionaire Justin Sun and his blockchain operator Tron DAO have dropped bids to contribute capital to Binance’s industry recovery fund.

Binance recovery fund has received an estimated $2 billion in funding from Binance and other crypto ventures like Jump Crypto, Polygon Ventures, Aptos Labs, Animoca Brands, GSR, Kronos, and Brooker Group.

Binance intends to help mitigate liquidity issues in the crypto space with the fund.

By design, contributions to the industry recovery fund can be tracked using blockchain analytics.

Binance said in its blog post yesterday that its investment could be increased to $2 billion “in the near future if the need arises.”

The fund will target projects that are deemed economically viable and innovative but facing liquidity issues as a result of the FTX crisis.

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