Binance-konverterar $1 Miljarder BUSD till Bitcoin, BNB, och Ethereum

På måndag, Binance CEO Changpeng Zhao, also known as CZ, announced that the company had decided to convert $1 billion worth of BUSD from the Industry Recovery Initiative fund into three different cryptocurrencies. Zhao noted that significant onchain movements would be noticeable following the announcement.

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CZ’s Decision to Convert $1 Billion BUSD Comes Amidst Troubles for Stablecoins

Binance CEO Changpeng Zhao (CZ) meddelat on Monday that the company had converted $1 billion BUSD into bitcoin (BTC), BNB, and ethereum (ETH). “Given changes in stablecoins and banks, Binance will convert the remaining $1 billion from the Industry Recovery Initiative funds from BUSD to native crypto, Inklusive BTC, BNB, och ETH. Some fund movements will occur onchain. Genomskinlighet,” Zhao said.

After tweeting the announcement, CZ shared an address for the Industry Recovery Initiative and a transaction explorer link for the transfer that the exchange handled. One person replied to CZ’s Twitter thread and sa: “People who are a bit unnerved by recent stablecoin developments will feel much more reassured.” The Binance CEO responded that he “didn’t even think about it that way. I was just discussing how to keep the funds in a safe asset. But that works too.”

I skrivande stund, Binance holds 7.56 billion BUSD stablecoins, according to Nansen’s exchange portfolio tool. CZ’s announcement comes as USDC had troubles this weekend holding parity with the US dollar after the failure of Silicon Valley Bank (SVB). vidare, US regulators forced Paxos to stop issuing BUSD, and billions of BUSD tokens have been removed from circulation since.

While BUSD has faced regulatory scrutiny, the stablecoin managed to stay within the $0.99 till $1 range most of the time. På marsch 11, 2023, BUSD slightly dipped to the $0.9848 range for a short period of time, but remained stronger than five other stablecoins that deviated from $1 parity over the past weekend.

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Asset, Binance, Binance BUSD, Bitcoin, bnb, BTC, BUSD, Changpeng Zhao, circulating supply, conversion, Kryptovaluta, CZ, Decision, depegging, depegging incidents, ETH, Ethereum, exchange portfolio tool, fond, Industry Recovery Initiative, Investerare, Nansen, Onchain movements, Parity, Paxos, Reassurance, Regulatorer, safe, Silicon Valley Bank, Stablecoins, Stablecoin Prices, Stablecoins, SVB, Genomskinlighet, troubles, USDC

What are your thoughts on Binance’s decision to convert $1 billion BUSD into bitcoin, bnb, and ethereum? Dela dina tankar i kommentarsfältet nedan.

Jamie Redman

Jamie Redman är nyhetsledare på Bitcoin-Tidings.com News och en finansteknisk journalist som bor i Florida. Redman har varit en aktiv medlem i kryptovalutagemenskapen sedan dess 2011. Han har en passion för Bitcoin, öppen källkod, och decentraliserade applikationer. Sedan september 2015, Redman har skrivit mer än 6,000 artiklar för Bitcoin-Tidings.com Nyheter om de störande protokoll som dyker upp idag.




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