Binance Will Convert $1B Worth of BUSD Stablecoin to Bitcoin, Ether, BNB, and Other Tokens

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Binance Will Convert $1B Worth of BUSD Stablecoin to Bitcoin, Ether, BNB, and Other Tokens
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The BUSD transaction from Binance industry fund took 5 seconds and cost merely $1.29, Binance CEO cz_binance said. By shauryamalwa.

The move likely contributed to buying pressure. Bitcoin jumped over $22,500 in Asian hours on Monday while ether regained the $1,600 market. BNB rose over 10% to trade over $300, setting two-week highs, as per CoinGecko data.

regulators shut downEarly last week saw regulators shut down Silvergate, followed by the collapse of Silicon Valley Bank on Friday night – causing markets to go haywire over the weekend as investors rushed to protect their capital.

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