As a result of the recent turmoil in the piata de criptare cauzată de eșecul FTX crypto exchange, several projects have taken a significant blow.
In response, DWF Labs, a market maker that offers liquidity to cryptocurrency projects, along with Binance Labs funds, are assisting those initiatives that are struggling.
Notably, DWF Labs has provided an initial sum of $15 million to assist troubled protocols as part of the Web3 Inițiativa de redresare a industriei (IRI) being led by Binance Labs, according to information obtained by Finbold through Etherscan de date. On November 29, DWF Labs a comentat:
“In line with our commitment to support the recovery of the Web3 industry, DWF Labs has allocated an initial $15m to support distressed protocols through the Binance Labs’ Web3 Industry Recovery Initiative.”
The market maker added:
“We believe that it is paramount to support builders in this challenging time, and we remain committed to providing financial support to the most promising and highest-quality companies that need it most.”
Source: https://finbold.com/dwf-labs-allocates-15-million-to-help-troubled-protocols-via-binances-web3-recovery-initiative/