Binance announced a $1 billion industry recovery plan, which may increase to $2 billion if necessary

ChainCatcher news, Binance announces a $1 billion Industry Recovery Initiative (IRI) introduction, IRI is not an investment fund. Each participant is required to reserve committed capital within a public address, and investment opportunities will be reviewed on a case-by-case basis with independent investment decisions. This initiative is expected to last for about six months and will maintain flexibility in investment structures------Tokens, fiat currencies, equity, convertible instruments, debt, credit lines, etc.

Initially, Binance will invest $1 billion in IRI-themed investment opportunities and intends to increase this amount to $2 billion in the near future if needed. So far, Jump Crypto, Polygon Ventures, Aptos Labs, Animoca Brands, GSR, Kronos, and Brooker Group have also committed to participate, with an initial total commitment of approximately $50 million, and more participants are expected to join soon. Binance's initial commitment of 1 billion BUSD's public address is: 0x043a80999cEe3711D372FB878768909fbE7F71E6. (source link)