Changpeng Zhao, CEO of Binance, the world’s largest crypto exchange, has announced eight new investment deals. Meanwhile, the investment amounts are not very large. However, Binance CEO sees these as ‘good projects’. Also, Binance has announced an ‘industry recovery fund’ to help the market recover from the FTX crash.
Binance invests in 8 new crypto projects it sees potential
Changpeng Zhao, founder of cryptocurrency exchange Binance, announced that Binanace has recently signed eight new deals. He emphasizes that although the investment amount is relatively low, the projects are promising for the Binance team. CZ shared the following statement on Twitter:
We just signed 8 investment agreements. All small amounts, but good projects in my opinion.
During Abu Dhabi Finance Week, Changpeng Zhao noted that each project is unique. He also stated that it is quite different from the others and has many potentials. He believes that his tokens will undoubtedly skyrocket. That’s why she decided to fund them directly.
Exchange CEO CZ is working for the stability of the crypto market!
CZ took Abu Dhabi Finance Week to a whole new level with announcements, deal signings, and most importantly, the Abu Dhabi government’s obtaining a Financial Services Authorization from the Financial Services Regulatory Authority (FSRA). Obtaining this permit has enabled Binance to officially operate a range of financial services in Abu Dhabi, the financial hub of the UAE capital.
Investors and users in the crypto ecosystem are in the midst of uncertainty due to the collapse of Sam Bankman-Fried’s crypto exchange FTX. That’s why CZ has declared an ‘industry recovery fund’ to overcome this fear. CZ created the Fund to support a fundamentally sound crypto project that is currently suffering from liquidity issues. Regarding the matter, Zhao made the following statement:
To further mitigate the cascading negative impact of FTX, Binance is creating an industry recovery fund to assist projects that are normally strong but are in a liquidity crisis.
cryptocoin.comAs you follow, there are reports that Binance is preparing to offer a buyout for Voyager Digital, which is currently in bankruptcy. There were also allegations that CZ had begun investigating another troubled firm, Genesis. Accordingly, CZ is considering making a bid for Genesis’ loan assets.
“Binance will focus on its own token”
However, Zhao mentioned that Binance will focus on the exchange’s native token, BNB. He also states that a series of upgrades and additional announcements are waiting for the BNB token that will unlock many new achievements for the company and the crypto landscape.
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