Cheng Bing Zhao, CEO of global cryptocurrency industry giant Binance, said that crypto-asset market players have shown great interest in Binance's newly announced industry recovery fund.
Last Monday, Binance announced the formation of an industry recovery fund after the cryptocurrency exchange FTX, one of the largest cryptocurrency exchanges, was bankrupt, and indicated that it would help successful projects affected by the liquidity crisis.
And the CEO of Binance added - during the Abu Dhabi Financial Week conference held in Abu Dhabi - that his company will announce more details about the fund in the coming weeks.
Cryptocurrencies do not need saving and will be fine, Cheng Bingzao stated, emphasizing that Binance has a healthy level of reserves, Zawya reported.
