Every day, money is in and out of the crypto market. When things went smoothly, everything seemed shiny. But things didn’t always go smoothly. FTX’s bankruptcy triggered the selling panic, turning the liquidity shortage of many platforms into a crisis.
Amid the turmoil, Binance CEO Changpeng Zhao stepped in on Nov. 14, announcing the launch of an industry recovery fund to assist strong initiatives that have become stranded in a difficult situation.
This is Open Liquidity War
Yet it’s not 1907 and Binance is not JP Morgan, the dominant figure who averted the twentieth-century banking collapse. CZ needs more than good intentions, and in order to save struggling firms, he might just have turned to his Abu Dhabi partners.
Bloomberg reported last week that Binance CEO made a visit to Abu Dhabi to secure more funds for the recovery plan. The plan, as stated by CZ, is aimed at helping promising projects in the liquidity crises following…
