The latest blockbuster! Justin Sun: Full support for Binance Chain "will soon announce partnership with Changpeng Zhao"

Abstract: FX168 Financial News (Hong Kong) News Justin Sun, the founder of TRON and member of the Huobi Global Advisory Board, tweeted this afternoon (25th), announcing that he fully supports the Binance Chain (BNB Chain) and Binance Dollar Stability Coin (BUSD), will soon announce a partnership with Changpeng Zhao.

FX168 Financial News (Hong Kong) News Justin Sun, the founder of TRON and member of the Huobi Global Advisory Board, tweeted this afternoon (25th), announcing that he fully supports the Binance Chain (BNB Chain) and the Binance Dollar Stablecoin ( BUSD), will soon announce a partnership with Changpeng Zhao.
The tweet read: “I fully support the BNB Chain ecosystem and BUSD. In fact, we will soon announce a major partnership.”

(Source: Twitter)

As the founder of Binance, Changpeng Zhao is currently working non-stop to solve the financial tsunami in the currency circle caused by the implosion of FTX. In an interview with Bloomberg, Zhao Changpeng said: "Overall, the cryptocurrency industry is not bad, but we will see more encryption risk contagion, and the industry has made the FTX exchange too large. A blog post about the industry recovery fund will be released soon, and it has already been published." Talk to some of the participants in the crypto industry recovery fund.”
In addition, Changpeng Zhao made it clear: "We will set aside $1 billion to buy distressed assets, and we will make another bid to buy Voyager assets."
According to previous news on November 17, Zhao Changpeng said that he has been discussing the industry recovery fund, and its size may be around 2 billion US dollars.
Binance issued an article on Friday introducing the details of the Web3 Industry Recovery Initiative (Industry Recovery Initiative), and disclosed the initial commitment of 1 billion BUSD wallet address information: 0x043a80999cEe3711D372FB878768909fbE7F71E6.
As Changpeng Zhao said earlier, he intends to increase this amount to US$2 billion in the near future when 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 the addresses of other participants will be announced next week.
Binance states that the Industry Recovery Initiative (IRI) is not an investment fund and that in order to obtain investment opportunities through the IRI application process, each participant needs to reserve committed capital in a public address. It could be a stablecoin or other token, at each participant's discretion to ensure transparency.
Each participant, including Binance, will review investment opportunities on a case-by-case basis and make investment decisions independently, willing to explore other transaction structures besides public addresses. The move is expected to last about six months and will allow for flexibility in the investment structure. Every participant can withdraw any remaining unused funds from the public address at the end of the program. Binance said it will look for projects with the following characteristics:
1. Innovation and long-term value creation;
2. A clearly defined and feasible business model;
3. Pay close attention to risk management.

Binance has currently received about 150 applications from companies seeking IRI support. In addition to financial support, Binance will also provide comprehensive support for the selected founders and projects, from formation, technical implementation, and fundraising. #NFT and cryptocurrency#