Gate. io shells out $100 million to help crypto companies survive liquidity crisis amid a bear market.
The company has set no deadline for applicants and hopes to expand the fund based on future market trends. In this regard, Lin Han, Founder and CEO of Gate.io, stated:
“Unforeseen hurdles during the bear market shouldn't adversely affect users and inhibit innovation. Now is the time to work together on rebuilding, protecting users, and fortifying the market.” In addition, the Gate SAFU fund, created by Gate.io in 2019, continues to provide a security blanket and insurance fund for user assets.Crypto exchange Binance, too, has taken up the responsibility to help the ecosystem survive uncertain market conditions.revealed plans to allocate $1 billion for an industry recovery fund. Binance’s proposed recovery fund is aimed at providing financial support to promising projects in financial distress.
While Binance is yet to officially announce the fund’s launch, CZ highlighted plans to adopt a relatively “loose” structure by allowing different industry peers to contribute to the fund.
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