Binance’s $1B recovery fund is a lifeline, but questions remain, including on decision making and why funds came from a cold wallet that holds customer funds (Ryan Weeks/The Block)

Krisztian Sandor / CoinDesk:
Block’s bitcoin-focused TBD subsidiary partners with Circle to build infrastructure for cross-border, dollar-linked stablecoin transfers and savings  —  The partnership aims to improve people’s access to dollar-linked stablecoins in countries with rapidly devaluing currencies.

Sam Reynolds / CoinDesk:
Binance announces a recovery fund to help “otherwise strong” projects facing a liquidity crisis; Justin Sun says Tron, Huobi, and Poloniex will support Binance  —  Tron founder Justin Sun said that Tron, Huobi Global and Poloniex will support Binance in its initiative.

Callan Quinn / The Block:
Binance shares addresses for its wallets and details its holdings: 475K BTC, 4.8M ETH, 17.6B USDT, 21.7B BUSD, 601M USDC, 58M BNB, and a $1B SAFU fund  —  – Binance has released the addresses of its hot and cold wallets.  — It provided a snapshot of its current holdings.

Bloomberg:
Sources: Binance CEO Changpeng Zhao met with investors in Abu Dhabi last week to raise money for a crypto industry recovery fund  —  Binance Chief Executive Officer Changpeng “CZ” Zhao and several deputies met with investors in Abu Dhabi last week in an effort to raise cash …

Binance Blog:
Binance CEO Changpeng Zhao says Binance is not a Chinese company and rejects suggestions of it being secretly run by a Chinese national, Guangying Chen  —  One of the many strengths that our employees at Binance must possess is thick skin.  After all, this industry is the subject of a lot …

MacKenzie Sigalos / CNBC:
Report: FTX legal and finance teams learned that SBF implemented a “backdoor” in FTX’s bookkeeping system to alter financial records without alerting others  —  – Reuters reports that at least $1 billion worth of customer funds have vanished from the failed crypto exchange.