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turning it out to crypto crypto exchange binance announcing it is launching a billion dollar Industry Recovery Fund to restore investor confidence following the FTX collapse this is FTX founder Sam bankmanfried is set to speak at the New York Times deal book Summit on Wednesday lets bring in Yahoo finances crypto reporter David Hollerith David Im kind of getting flashbacks to the summer when Sam begman freed was trying to rescue a lot of other crypto assets but what do we know about this Recovery Fund it sounds like CZ is willing to go beyond a billion now right Akiko um yeah I you cant help but think of the Summer where FTX uh tried a similar thing and obviously uh all of those all those moves for bailouts are being interpreted quite differently uh given that FTX has collapsed and is in bankruptcy now um but finances effort is a little bit different and I think the key things we would point out is one that uh up to this point the firm has uh deployed about one billion dollars to
