Changpeng Zhao, CEO of Binance, declared on Twitter that the leading cryptocurrency exchange will utilize approximately $1 billion remaining from its Industry Recovery Initiative funds to acquire native crypto assets, specifically Bitcoin, Ether, and BNB. BUSD to BTC, ETH, BNB Conversion Comes On The Heels of Worst Banking Crisis in the US To purchase these cryptocurrencies, the exchange will use its dollar-pegged stablecoin, BUSD. CZ, as he is commonly known, also mentioned that some of the transactions will occur on-chain to ensure transparency. The conversion of $1 billion to native crypto assets occurs during a banking crisis that gained attention The post Binance to Convert $1 billion Worth BUSD to BTC, ETH, And BNB appeared first on Cryptoknowmics-Crypto News and Media Platform .
