Binance announces an "industry recovery fund"

CZ of Binance announced on Twitter that Binance would be forming an "industry recovery fund", which he says is intended for projects that are "otherwise strong, but in a liquidity crisis".

This not entirely unlike someone trying to sell you a house that is "otherwise sturdy, but in an engulfed-in-flames crisis".

He says the project is intended to reduce the "cascading negative effects of FTX", underscoring how nervous this whole debacle is making other players in the industry.