• 190
  • 21
  • Favorite

Binance to Commit $1B for Crypto Recovery Initiative

Seeking Alpha2022-11-25

  • Binance Holdings is aiming for a roughly$1B fund for the potential purchase of distressed assets in the digital-asset sector and will make another bid for bankrupt lender Voyager Digital, its CEO Changpeng Zhao said.
  • The move comes at a time when the crypto market is teetering from the collapse of FTX, which is seeking Chapter 11 bankruptcy protection in the United States.
  • Binance said it intends to ramp up its commitment amount to $2B in the near future depending on need.
  • This year’s deep crypto rout has lopped about $80B off Zhao’s personal fortune but at $15B it still far exceeds anyone else in crypto, according to the Bloomberg Billionaires Index.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Report

Comment(21)

  • SPOT_ON
    ·2022-11-25
    [Surprised] [Surprised] [Surprised] 
    Reply
    Report
  • seetees
    ·2022-11-25
    Ok
    Reply
    Report
    Fold Replies
    • KxC: 
      k
      2022-11-25
      Reply
      Report
    • Myname: 
      Ok
      2022-11-25
      Reply
      Report
  • KW1
    ·2022-11-25
    Ok like
    Reply
    Report
    Fold Replies
    • Don3: 
      ok
      2022-11-25
      Reply
      Report
    • Slayer888: 
      like
      2022-11-25
      Reply
      Report
  • JC888
    ·2022-11-25
    If Binance owner CZ fulfills this promise, it will only serve to further solidify his pole position as the #1 crypto exchange for perhaps All crypto currencies. Smart man with a dangerous ambition that is "given" free rein by investors "conferred" choice, not by govt regulation. Is Binance compliant just like a stock exchange is? Nobody knows becos it doesn't fall under any central bank's jurisdiction no?  Can u make a quick buck in crypto investment? Yes if yr risk appetite permits. Is it a sure win? As we observe all the fallout from the time Terra/Luna incident happened its confirmed its not. And the pace of failure has gathered pace.. 3AC saga then now FTX n more..  So why? Its man's nature to wanna risk for sheer pleasure or dare me adventure? A bungee ju
    Reply
    Report
    Fold Replies
    • WebbBart: 
      Will Binance collapse one day in the future?
      2022-11-25
      Reply
      Report
    • AlpineSnow: 
      To me, crypto has no intrinsic value
      2022-11-25
      Reply
      Report
    • JC888: 
      Hi hi pls remember to give a Like ok. The rating is important to me. Tks tks...
      2022-11-25
      Reply
      Report
    View more 2 comments
  • bostonxsgp
    ·2022-11-25
    ok
    Reply
    Report
    Fold Replies
  • AI辉煌时代
    ·2022-11-25
    Seriously [NosePick] 
    Reply
    Report
    Fold Replies
  • MLFL
    ·2022-11-25
    👋 
    Reply
    Report
  • LalaLand
    ·2022-11-25
    If the trust is fading, how can he recover the crypto world.
    Reply
    Report
    Fold Replies
    • KW1: 
      ok
      2022-11-25
      Reply
      Report
    • HawTK: 
      Note d
      2022-11-25
      Reply
      Report
  • SharRonnie
    ·2022-11-25
    Wow
    Reply
    Report
  • Seah CL
    ·2022-11-25
    K
    Reply
    Report
    Fold Replies
    • cassan: 
      Ok
      2022-11-25
      Reply
      Report
    • Seah CL: 
      k
      2022-11-25
      Reply
      Report
  • Newbie_21
    ·2022-11-25
    Ok
    Reply
    Report
  • Dragonroar
    ·2022-11-25
    Wow
    Reply
    Report
    Fold Replies
  • clementsyc
    ·2022-11-25
    Ok
    Reply
    Report
    Fold Replies
    View more 1 comments
  • LY1970
    ·2022-11-25
    Hi
    Reply
    Report
    Fold Replies
  • ryanoon
    ·2022-11-25
    Please like
    Reply
    Report
    Fold Replies
    • Tigaa: 
      ok
      2022-11-25
      Reply
      Report
    • BEEBOOOO: 
      ok
      2022-11-25
      Reply
      Report
    • LY1970: 
      Hh
      2022-11-25
      Reply
      Report
    View more 1 comments
  • Fumiyo
    ·2022-11-25
    Like 
    Reply
    Report
    Fold Replies
    View more 1 comments
  • Wilson tok
    ·2022-11-25
    Ok
    Reply
    Report
    Fold Replies
    • Fumiyo: 
      ok
      2022-11-25
      Reply
      Report
    • Wilson tok: 
      Ok
      2022-11-25
      Reply
      Report
  • CYKuan
    ·2022-11-25
    $Coinbase Global, Inc.(COIN)$ there might be some rally but not long 
    Reply
    Report
  • BC1970
    ·2022-11-25
    Hi
    Reply
    Report
  • KK2021
    ·2022-11-25
    ok
    Reply
    Report
    Fold Replies
    • KK2021: 
      ok
      2022-11-25
      Reply
      Report
 
 
 
 

Most Discussed

 
 
 
 
 

7x24