cryptonews.net
On November 13, Alexandre DREYFUS, CEO of Chiliz, announced the recovery plan on Twitter. Dreyfus will allocate 38 million CHZ to public addresses to compensate up to $10,000 for each FTX user who held CHZ on the exchange. The collapse of one of the largest crypto exchanges FTX caused a shock in the crypto industry. Various leaders on different crypto platforms are taking steps to help those affected.
The initiative comes days after TRON CEO Justin SUN took a similar approach. TRON Labs has entered into an agreement with FTX to support the TRX recovery plan. Meanwhile, derivatives exchange Bitget announced the creation of a $5 million fund to help traders affected by the FTX incident.
According to CoinMarketCap, the native CHZ is trading at $0.2 at the time of writing, having lost over 30% since hitting a local high of $0.275 early last week.
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