73A4B84989D999F72FEDB43ED5420890544CA124F220D1DB7593B3F0B2485CB2 Binance converts remaining $1 billion in Industry Recovery Initiative to native crypto amidst concerns around stablecoins

Binance converts remaining $1 billion in Industry Recovery Initiative to native crypto amidst concerns around stablecoins

Binance co-founder and CEO, Changpeng Zhao, announced on March 13 that the exchange will be converting the remaining $1 billion funds in its Industry Recovery Initiative to native crypto amid concerns surrounding stablecoins. This decision was made following the depegging of the USD Coin (USDC) stablecoin caused by the failure of three major crypto-friendly banks – Silicon Valley Bank (SVB), Silvergate Bank, and Signature Bank. (Read More)

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