 "Cryptocurrency, Crypto market")
Cryptocurrency prices rallied Monday after Binance Holdings Chief Executive Officer Changpeng Zhao announced plans to launch a crypto recovery fund to help industry players facing a liquidity crunch.
Bitcoin edged towards $17,000 following Zhao’s announcement.
Zhao said the fund is intended to prop up investor confidence following the dramatic collapse of Sam Bankman-Fried’s FTX crypto exchange, which wiped out about $200 billion in crypto market value. Zhao has not announced any details.
Bitcoin, Ether rise as FTX fallout extends
Bitcoin edged higher Monday, charting a tentative recovery after a brutal week that raised questions about the future of the cryptocurrency industry.
Bitcoin rose 1.3 per
