Binance to convert crypto recovery fund to native crypto after SVB collapse
Binance launched the Industry Recovery Initiative (IRI) in November last year to help crypto projects facing a liquidity crisis after the collapse of rival FTX
Given the changes in stable coins and banks, #Binance will convert the remaining of the $1 billion Industry Recovery Initiative funds from BUSD to native crypto, including #BTC, #BNB and ETH. Some fund movements will occur on-chain. Transparency.