Binance is targeting $1 billion or more for a previously announced recovery fund to buy distressed crypto assets, CEO Changpeng "CZ" Zhao said in an interview with Bloomberg Television on Thursday.

Binance CEO Changpeng “CZ” Zhao in an interview with Bloomberg on Thursday, November 24 answered questions on FTX contagion, Coinbase reserves, industry recovery fund, etc. He believes there will be some contagion for some time as a result of the collapse of the crypto exchange FTX.

Ravencoin (RVN) spiked 20% following Binance Pool’s <a href="https://www.binance.com/en/support/announcement/binance-pool-officially-launches-ravencoin-rvn-mining-pool-b9aaee162b9c4d90b868fdc716625446">announcement</a> of mining services for the proof-of-work (PoW) coin.

According to data shared by crypto influencer <a href="https://twitter.com/john_j_brown/status/1594626237200470016">John Brown</a>, 91% of <a href="https://cryptoslate.com/companies/bitfinex/">Bitfinex</a> exchange’s reserves are Bitcoin (<a href="https://cryptoslate.com/coins/bitcoin/">BTC</a>) and Ethereum (<a href="https://cryptoslate.com/coins/ethereum/">ETH</a>).

Terra Classic (LUNC) came out as the winner in the just-concluded Community Showdown contest hosted on Twitter by Binance, the world’s largest digital assets exchange. This goes further to show that support for LUNC remains high, despite the predicament the project experienced in early 2022.

The Monetary Authority of Singapore (MAS), the country’s central bank, <a href="https://www.mas.gov.sg/news/media-releases/2022/mas-statement-to-address-misconceptions-in-the-wake-of-collapse-of-ftx" target="_blank">released</a> a statement Nov. 21 to address “some questions and misconceptions that have arisen in the wake of the FTX.com (FTX) debacle.” The agency explained its&nbsp;

Battles between crypto exchange titans has driven much of this month's chaos in the industry. The latest salvo from Binance's CEO appears to have been inaccurate.

Binance hasn't responded yet on this matter but the recent tweet from Oxscope do raise some serious question.

Binance, the world’s largest crypto-exchange, wants to expand even further and plans to bring in 600 new people by the end of the year. The company hopes to have 8,000 employees by the time 2023 rolls around, according to a tweet shared by CEO Changpeng Zhao.

The latest service release from Binance Pool has recently generated market-wide interest. The platform’s Cloud Mining service has been launched to facilitate user access to mining equipment.