{"id":151036,"date":"2022-11-24T20:24:10","date_gmt":"2022-11-25T02:24:10","guid":{"rendered":"https:\/\/lifeboat.com\/blog\/2022\/11\/binance-deploys-1-billion-to-keep-crypto-industry-afloat-after-ftx-collapse"},"modified":"2022-11-24T20:24:10","modified_gmt":"2022-11-25T02:24:10","slug":"binance-deploys-1-billion-to-keep-crypto-industry-afloat-after-ftx-collapse","status":"publish","type":"post","link":"https:\/\/lifeboat.com\/blog\/2022\/11\/binance-deploys-1-billion-to-keep-crypto-industry-afloat-after-ftx-collapse","title":{"rendered":"Binance deploys $1 billion to keep crypto industry afloat after FTX collapse"},"content":{"rendered":"<p><a class=\"aligncenter blog-photo\" href=\"https:\/\/lifeboat.com\/blog.images\/binance-deploys-1-billion-to-keep-crypto-industry-afloat-after-ftx-collapse2.jpg\"><\/a><\/p>\n<p>In the first court hearing for the bankruptcy case on Tuesday, a lawyer for the company gave a damning verdict of FTX and its leadership, saying the company was run as the \u201cpersonal fiefdom\u201d of Bankman-Fried.<\/p>\n<p>Binance said the vehicle \u201cis not an investment fund\u201d and is intended to support companies and projects that, \u201cthrough no fault of their own, are facing significant, short term, financial difficulties.\u201d <a href=\"https:\/\/www.cnbc.com\/2022\/11\/14\/binance-ceo-sees-slight-increase-in-withdrawals-after-ftx-collapse.html\">Zhao has said previously it is his intention to prevent further<\/a> \u201ccascading contagion effects\u201d stemming from FTX\u2019s collapse.<\/p>\n<p>Binance said it anticipates the program will last around six months. It is accepting applications from investors to contribute additional funds.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In the first court hearing for the bankruptcy case on Tuesday, a lawyer for the company gave a damning verdict of FTX and its leadership, saying the company was run as the \u201cpersonal fiefdom\u201d of Bankman-Fried. Binance said the vehicle \u201cis not an investment fund\u201d and is intended to support companies and projects that, \u201cthrough [\u2026]<\/p>\n","protected":false},"author":396,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[45,1491],"tags":[],"class_list":["post-151036","post","type-post","status-publish","format-standard","hentry","category-finance","category-transportation"],"_links":{"self":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts\/151036","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/users\/396"}],"replies":[{"embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/comments?post=151036"}],"version-history":[{"count":0,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts\/151036\/revisions"}],"wp:attachment":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/media?parent=151036"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/categories?post=151036"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/tags?post=151036"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}