The founder of Chiliz is allocating 38 million CHZ to individual users who could not withdraw their funds from FTX. Users can now receive compensation of up to $10,000 as part of this initiative.
The collapse of one of the largest crypto exchanges, FTX, sent shockwaves in the crypto industry. Various leaders across different crypto platforms are taking steps to inject some certainty amid the chaos.
Chiliz offering a helping hand
On Nov. 13, Alexandre Dreyfus, the CEO of Chiliz, announced a recovery plan on Twitter. Herein, the founder would allocate 38 million CHZ to public addresses to compensate up to $10,000 per FTX user that held CHZ on the exchange.
