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A Domino Effect - How will the Crypto Industry Adapt?

Over the past couple of weeks, it has become clear how sensitive the modern economy is. One major catastrophe in the crypto space has echoed far and wide. From severely influencing the value of several top tier cryptocurrencies, to overwhelming self custody providers such as Ledger due to the massive wave of assets being withdrawn from various exchanges, the industry at large has taken a hit. 

As with any catastrophe, one thing to expect is that once the fire burns out, many will adapt and grow out of the ashes. We will no doubt also see existing players tread with more caution than ever and implement additional safeguards. 

Binance on their part has promised an 'industry recovery fund', an encouraging move which will hopefully help some manage liquidity issues. This is definitely one development to follow, it will be interesting to see how it is adopted in practice. 

More importantly, as the cards are laid on the table by many industry players with the world watching, we will see a host of improvements and developments for the benefit of users overall. 

Binance CEO Changpeng "CZ" Zhao says that his exchange is setting up an industry recovery fund to help rebuild the industry.

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