According to an interview with Chief Executive Officer Changpeng Zhao, the exchange is aiming for a roughly $1 billion fund for the potential purchase of distressed assets in the digital sector.
Zhao hinted at the possibility of allocating more funds in the interview. If that's not enough, we can allocate more he said.
After the collapse of FTX, Zhao said that there was interest from industry players in a recovery fund that he plans to launch to help cryptocurrencies projects facing a squeeze.
He said that such a fund would help reduce the negative effects of FTX without giving an exact figure for the fund.
The market for cryptocurrencies has been teetering after the collapse of FTX, which is seeking Chapter 11 bankruptcy protection in the United States.
Several crypto firms have been bracing for the fallout from the FTX collapse, with many counting their exposure to the exchange in millions.
A major cripto-skeptic said last week it had suspended customer redemptions in its lending business, while BlockFi is preparing to file for bankruptcy.