Friday, March 24, 2023
British Herald
Advertisement
  • Home
  • World
    • UK
    • Europe
    • Asia
    • Africa
    • Oceania
    • USA
    • Middle East
    • Latin America
  • Politics
  • Business
    • ECONOMY
    • Financial Markets
    • Companies
  • Sport
  • Fintech
  • Videos
  • Coffee Table Book
  • BH Magazine
  • More
    • Health
    • Entertainment
    • Science & Technology
    • Climate & Environment
    • Sustainability
    • Food and Travel
    • Fashion
    • Culture and Lifestyle
    • Articles
    • Opinion
No Result
View All Result
British Herald
  • Home
  • World
    • UK
    • Europe
    • Asia
    • Africa
    • Oceania
    • USA
    • Middle East
    • Latin America
  • Politics
  • Business
    • ECONOMY
    • Financial Markets
    • Companies
  • Sport
  • Fintech
  • Videos
  • Coffee Table Book
  • BH Magazine
  • More
    • Health
    • Entertainment
    • Science & Technology
    • Climate & Environment
    • Sustainability
    • Food and Travel
    • Fashion
    • Culture and Lifestyle
    • Articles
    • Opinion
No Result
View All Result
British Herald
Home Fintech

Binance proposes funds to save crypto from future failures

Editorial Bureau by Editorial Bureau
November 15, 2022
0
Binance proposes funds to save crypto from future failures
74
SHARES
1.2k
VIEWS
Share on FacebookShare on Twitter

Cryptocurrency exchange giant Binance proposes creating a rescue fund that would save otherwise healthy crypto companies from failure, aiming to stave off the cascading effects of last week’s implosion of FTX, the world’s third-largest crypto exchange.

You might also like

TradeBridge received a credit facility of up to £100m

What will happen after the bitcoin price bounce?

Saudi fintech Tamara backed by Goldman with a $150 million fund

Binance founder and CEO Changpeng Zhao posted on Twitter Monday that his company would create “an industry recovery fund, to help projects who are otherwise strong, but in a liquidity crisis.”

Zhao provided no details on the fund’s size or scope or how the funds would be distributed.

The entire cryptocurrency universe is reeling from the bankruptcy of FTX, which was besieged with withdrawal requests in what has been the cryptocurrency equivalent of a bank run. It’s the latest failure of a cryptocurrency firm this year, as the prices for Bitcoin, Ethereum and other cryptocurrencies have collapsed in value.

The broader effects of FTX’s failure are still too early to determine, but other firms are now facing withdrawal requests straining their systems. BlockFi and Crypto.com both said they faced high withdrawal requests after FTX’s failure.

Cryptocurrencies have no government backing, so there’s no equivalent of deposit insurance or government backstop. What Zhao proposes may be similar to deposit insurance or a central bank-like entity for cryptocurrencies.

Tags: B20BinanceChangpeng ZhaocryptoFTXG20
Share30Tweet19
Editorial Bureau

Editorial Bureau

Recommended For You

TradeBridge received a credit facility of up to £100m

March 22, 2023
TradeBridge

According to fintech global, TradeBridge, a business lender, has received a credit facility of up to £100m from Castlelake, a global investment manager. This new funding, combined with...

Read more

What will happen after the bitcoin price bounce?

March 18, 2023
bitcoin bounce

This year's markets are volatile, there is a great deal of uncertainty, and recently, the US government had to intervene to save two sizable US institutions. Why then...

Read more

Saudi fintech Tamara backed by Goldman with a $150 million fund

March 16, 2023
Goldman backs Saudi fintech Tamara with $150 million facility

Tamara, a Saudi firm in the financial technology sector, defied a global decline in venture capital financing by obtaining a $150 million debt facility from Goldman Sachs Group....

Read more

Crypto exchange Coinbase ties up with StanChart in Singapore

March 15, 2023
Crypto exchange Coinbase ties up with StanChart in Singapore

Coinbase Global, a US-listed cryptocurrency exchange, is collaborating with Standard Chartered in Singapore. It will give its customers the option to transfer money between any lender and the...

Read more

Silicon Valley bank crisis ‘a threat to Fintech funding’

March 11, 2023
Silicon Valley Bank Crisis Threatens FinTech Funding

The tremors in Silicon Valley pose a danger of an earthquake, especially for smaller tech companies. We're already seeing more attention paid to liquidity within the financial industry,...

Read more
No Result
View All Result
Paris Olympics

French MPs battle over AI video surveillance cameras at Paris Olympics

March 24, 2023
Britain's King Charles III postponed visit to France

Visit to France of Britain’s King Charles III postponed

March 24, 2023
Paxlovid reduces risk of long-term health problems

Paxlovid reduces the risk of health problems and Covid death- studies

March 24, 2023

Tags

amazon australia boris johnson brexit britain British Herald CHINA Coronavirus coronavirus cases coronavirus outbreak COVID-19 COVID-19 Vaccine daily roundup Donald Trump Dubai expo 2020 england European Union facebook France germany Hong Kong ICC Men's T20 india iran israel italy japan joe biden lockdown London new zealand north korea Rishi Sunak russia south korea spain T20 T20 World Cup taiwan thailand Trump turkey UK Ukraine usa
British Herald

Top News in World: Read Latest News on Sports, Business, Entertainment, Blogs and Opinions from leading columnists.

CATEGORIES

  • Africa
  • Articles
  • Asia
  • Brand Feature
  • Business
  • Climate & Environment
  • Companies
  • Crypto
  • Culture and Lifestyle
  • Daily Roundup
  • Economics
  • ECONOMY
  • edel
  • Entertainment
  • Europe
  • Fashion
  • Finance
  • Financial Markets
  • Fintech
  • Health
  • IN UK 01
  • IN UK 02
  • Investing
  • Latin America
  • Market
  • Middle East
  • nsp
  • Oceania
  • Opinion
  • Pharma/BioTech
  • Politics
  • Reviews
  • Science & Technology
  • Sport
  • Sustainability
  • Tech
  • Technology
  • Travel
  • UK
  • Uncategorized
  • USA
  • Videos
  • World

BROWSE BY TAGS

amazon australia boris johnson brexit britain British Herald CHINA Coronavirus coronavirus cases coronavirus outbreak COVID-19 COVID-19 Vaccine daily roundup Donald Trump Dubai expo 2020 england European Union facebook France germany Hong Kong ICC Men's T20 india iran israel italy japan joe biden lockdown London new zealand north korea Rishi Sunak russia south korea spain T20 T20 World Cup taiwan thailand Trump turkey UK Ukraine usa

Herald Media Network Limited (UK). 2023. ALL RIGHTS RESERVED.

No Result
View All Result
  • Home
  • World
    • UK
    • Europe
    • Asia
    • Africa
    • Oceania
    • USA
    • Middle East
    • Latin America
  • Politics
  • Business
    • ECONOMY
    • Financial Markets
    • Companies
  • Sport
  • Fintech
  • Videos
  • Coffee Table Book
  • BH Magazine
  • More
    • Health
    • Entertainment
    • Science & Technology
    • Climate & Environment
    • Sustainability
    • Food and Travel
    • Fashion
    • Culture and Lifestyle
    • Articles
    • Opinion

Herald Media Network Limited (UK). 2023. ALL RIGHTS RESERVED.

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?