Binance boss Changpeng Zhao injects €10m into Irish unit amid crypto rout

News Snapshot:

Changpeng Zhao, the founder and chief executive of Binance, the worlds’s largest cryptocurrency trading platform, injected €10.6m in cash into one of the group’s Irish entities just last week, company filings show. The cryptocurrency market has gone into meltdown this year, with Binance rival FTX collapsing last month, while US cryptocurrency brokerage Genesis is now trying to avoid bankruptcy. This week, BlockFi, which operates a cryptocurrency trading exchange and custodial services for cryptocurrencies, filed for bankruptcy in the United States in the wake of the FTX collapse. The price of the most widely known cryptocurrency, bitcoin, collapsed 25pc on Wednesday...