Chiliz Founder Gives 38 Million CHZ to Affected FTX Users

Chiliz Founder Gives 38 Million CHZ to Affected FTX Users

Altcoins

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.

Image: SwissBorg

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