Benzinga - Binance CEO Changpeng Zhao on Sunday said the exchange will convert over $1 billion Industry Recovery Initiative funds from BUSD (CRYPTO: BUSD) to Bitcoin (CRYPTO: BTC), Binance Coin (CRYPTO: BNB) and Ethereum (CRYPTO: ETH).
What Happened: Zhao, popularly known as "CZ," said on Twitter that the transaction from Binance’s industry fund to BUSD took 15 seconds and cost only $1.29 — something that likely contributed to the buying pressure in Bitcoin, Ether and BNB.
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The transfer txid. Took 15 seconds and costs $1.29. Imagine moving $980 million through a bank before banking hours on a Monday. https://t.co/ViCppASVFK— CZ