OKX reveals $100m ‘market recovery fund’ after rebuffing FTX rescue

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City AM

By Charlie Conchie OKX, the crypto exchange that rebuffed a rescue request from FTX, has announced a $100m ‘market recovery fund’ today designed to support ailing firms on the verge of collapse. The Seychelles-based exchange, which FTX begged for a bailout last week before striking a later-abandoned deal with Binance, said the new fund would be targeted at “high-quality projects” in the sector that are hit by sudden liquidity crises. It marks the latest effort to shore up firms against future crises as the shockwaves of the FTX collapse reverberate across the industry. The biggest crypto bours…

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