By Walter Grand in Economy —

Binance

Binance
Photo by Coinhako / Unsplash

Binance to convert $1 billion industry development fund into other cryptocurrencies

Cryptocurrency exchange Binance intends to convert 1 billion BUSD stabelcoins from the industry development fund into bitcoin, ether and BNB:

"Given the situation with Stablecoin and banks, Binance will convert the remainder of the $1 billion in BUSD from the Industry Recovery Initiatives fund into other cryptocurrencies, including BTC, BNB and ETH. Some movement of funds will take place within the network. Transparent."