Last week, Binance CEO Changpeng Zhao announced a recovery fund for the ailing industry. The crypto exchange has now provided one billion US dollars in its own stablecoin BUSD. Noisy etherscan received two remittances yesterday, November 24th. The aid is expected to increase to two billion US dollars and help companies that got into trouble as a result of the FTX crisis.
So far, various players from the crypto space have participated in the Binance fund with a total of 50 million US dollars. As reported by The Block, Tron founder Justin Sun is said to have also pledged support. A Tron DAO spokesman confirmed an application for the program.
It’s not the first time Sun has pledged support for cheated FTX investors. As the crypto exchange’s demise loomed, the Tron founder helped process withdrawals. However, it also benefited itself.