OKX, one of the largest cryptocurrency exchanges in the world, announced a $ 100 million recovery fund for projects that have liquidity problems after the FTX collapse and want to leave the Solana (SOL) network.
OKX’s official Chinese Twitter account posted on Nov. in sharingquality projects stemming from recent events. experiencing liquidity problems said and in order to support the development of these projects A $100 million fund announced. This $100 million fund is seamlessly flowing through the Solana network of projects. transport, development, technical needs and liquidity It will help.
Binance also made a similar move yesterday. CZ, the CEO of the cryptocurrency exchange, said in a statement that he was affected by the bankruptcy of FTX, but to strong projects announced that they would create an “industry recovery fund” to help. Justin Sun, the founder of Huobi and TRON network, also supported this statement made by Binance.
In order to keep the “sector” alive, many crypto money exchanges similar moves expected to perform. Regarding the fund to be launched by Binance while not giving details Coinbase, KuCoin, Kraken, and Gate.ioa is expected to support this or similar fund.