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Binance’s CZ Reportedly in Talks with Abu Dhabi Investors on Industry Recovery Fund

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Binance’s CEO, Changpeng Zhao (CZ), reportedly met with investors from Abu Dhabi to discuss the recently announced cryptocurrency industry recovery fund.

  •  The CEO of the world’s leading exchange met with Abu Dhabi investors to discuss the crypto industry recovery fund.
  • According to a Bloomberg report, a spokesperson from Binance said the meeting was primarily focused on how local regulators can lead the “globe by exploring more aggressive proof of custody requirements.”
  • Per the coverage, CZ made an effort to raise money for the recovery fund that he announced earlier in November.
  • As CryptoPotato reported, Binance’s CEO said back then:

To reduce further cascading negative effects of FTX, Binance is forming an industry recovery fund, to help projects who are otherwise strong, but in a liquidity crisis. More details to come soon. In the meantime, please contact Binance Labs if you think you qualify.

(by George Georgiev)

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