Aliens TLDR

As reported by Colin Wu's Twitter handle, Binance has refuted giving a big line of credit to embattled hedge fund Three Arrows Capital, saying several firms have approached the company for bailouts.

CZ:Binance is “not the primary trading venue” for Three Arrows, and abstained from extending the failed hedge fund a large credit line, many of these firms have approached Binance for rescue, he said without elaborating.

Shares of cryptocurrency exchange Voyager Digital also fell by 51% owing to a contagion from the troubled crypto hedge fund Three Arrows Capital.

But here, Binance says it may not grant bailouts to failed projects, but it might consider projects that make small mistakes or those struggling to survive or find their feet.

In Binance's words: "Further, in any industry, there are always more failed projects than successful ones.