News

Law

Asset Management

Investment Banking

Wealth

Hedge Funds

People

Newsletters

Events

Lists

Cryptocurrency

‘It’s risky business’: Binance’s $1bn crypto industry recovery fund prompts antitrust concerns

Binance said the fund would help rebuild the crypto industry following the collapse of its peer FTX

Binance chief executive Changpeng 'CZ' Zhao announced the fund on 24 November
Binance chief executive Changpeng 'CZ' Zhao announced the fund on 24 November Photo: Getty Images

Binance risks getting on the wrong side of global competition watchdogs with its new $1bn industry recovery fund, a crypto antitrust expert has warned.

Thibault Schrepel, a professor at VU Amsterdam University and author of the 2021 book Blockchain and Antitrust, said the fund could be used as “an instrument to decide who, amongst horizontal and vertical competitors, can survive.”

WSJ Logo