OKX to Create $100M Fund to Support Victims of FTX Collapse
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Crypto exchange OKX has just announced it plans to create a fund with $100 million in assets to support projects affected by the FTX liquidity crisis.
According to the platform, the initiative is aimed at qualified market participants experiencing technological, financial and other problems.
The fund will reportedly help these projects make a smooth migration from the affected platform.
Crypto Fund Research has reported cryptocurrency fund losses due to the FTX bankruptcy could be as high as $5 billion. In particular, the crisis has affected 25-40% of the industry’s investment structures that invested in FTX or its native token FTT.
Last November 6, Binance CEO Changpeng Zhao announced the company’s desire to divest the FTT token.
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