The CEO of leading cryptocurrency exchange Binance, Changpeng Zhao, has said the trading platform is forming an industry recovery fund followingr the collapse of FTX. While more details are set to come soon, Zhao asked other industry players to join the initiative.
Embattled cryptocurrency exchange FTX has said it was investigating “unauthorized transactions” flowing from its wallets, with crypto researchers suggesting over $515 million may have been hacked or stolen.
Crypto.com mistakenly sent more than 320,000 ETH, worth over $400 million, to a rival cryptocurrency exchange last month, according to its CEO Kris Marszalek. The other exchange, Gate.io, returned the funds shortly after.
Top stories in the Crypto Roundup today:
- Binance Starts Forming Crypto Industry Recovery Fund
- FTX Investigates Possible $500 Million Hack
- Crypto.com Accidentally Transferred $400 Million of ETH to Another Exchange