March 13 (Reuters) - Binance will convert the remaining
of the $1 billion industry recovery initiative funds from BUSD
stablecoin to native crypto, including Bitcoin, Ether and
Binance Coin, amid recent changes in stablecoins and the banking
industry, its CEO Changpeng Zhao said in a tweet on Monday.
Binance launched the Industry Recovery Initiative (IRI) in
November to help crypto projects facing a liquidity crisis after
the collapse of rival FTX.
(Reporting by Shubham Kalia in Bengaluru; Editing by Savio
D'Souza)
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