Binance to convert $1 billion industry recovery fund from BUSD to Bitcoin, ETH, & BNB
Given the changes in stablecoins and banks, Binance CEO Changpeng Zhao has announced that Binance will convert the remaining of the $1 billion Industry Recovery Initiative funds from BUSD to native crypto.
The remaining funds will be converted into BTC, BNB, and ETH. Some fund movements will occur on-chain transparently.