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Gate.io Pledges $100M To Revive Crypto And Rebuild Investor Confidence

Admin by Admin
December 7, 2022
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Gate.io Pledges $100M To Revive Crypto And Rebuild Investor Confidence
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With investors moving their funds away from exchanges into self-custody, market liquidity concerns are an immediate threat to struggling crypto businesses.

In a move to tone down the negative impacts of a bear market and ecosystem collapses, crypto exchange Gate.io launched an industry liquidity support fund with an initial commitment of $100 million.

With investors moving their funds away from exchanges into self-custody, market liquidy concerns are an immediate threat to struggling crypto businesses. Gate.io’s $100 million commitment aims to support companies looking to restrategize and adapt to changing market conditions.

The liquidity support aims to help crypto businesses maintain their focus on their business while being protected from market uncertainties.

Eligible crypto projects will receive funding up to $10 million, primarily for market-making, i.e., providing liquidity for traders. The company has set no deadline for applicants and hopes to expand the fund based on future market trends. In this regard, Lin Han, Founder, and CEO of Gate.io stated.

Crypto exchange Binance, too, has taken up the responsibility to help the ecosystem survive uncertain market conditions.

Most recently, Binance CEO Changpeng Zhao revealed plans to allocate $1 billion for an industry recovery fund. Binance’s proposed recovery fund is aimed at providing financial support to promising projects in financial distress.

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