Binance Shows Crypto Edge Over Banks With $1B Instant Transfer: ’15 Seconds and Cost $1.29′ – SVB Finl Gr (NASDAQ: SIVB), Signature Bank (NASDAQ: SBNY)

binance CEO changpeng zhao said on Sunday that the exchange would convert more than $1 billion of Industry Recovery Initiative funds Bus bus/usd To Bitcoin BTC/USD, binance coin bnb/usd And Ethereum ETH/USD,

What happened: Zhao, popularly known as “CZ”, said on Twitter that a transaction from Binance’s Industry Fund to BSD took 15 seconds and cost only $1.29 – something that is comparable to bitcoin, ether and May contribute to the buying pressure in BNB.

see all, Top Indian Apps That Offer Bitcoin, NFT Rewards

All three assets hit two-week highs, with bitcoin surpassing $22,500 and ether reaching $1,600.

The crypto market suffered another blow over the weekend signature bank SBNY And Silicon Valley Bank, is a subsidiary of SVB Financial Group SIVBtumbled down.

it walks on the heels of Silvergate Capital Corp. SI Shut down by regulators early last week.

Price Action: Apex Crypto B T c was trading at $22,254, up 8.33% in the last 24 hours. ETH was up 8.10%, trading at $1,596. According to Benzinga Pro data.

Read further: Bitcoin Jumps To $22K, Ethereum, Dogecoin Rally As Team Biden Cushions SVB Blow: Analyst Sees Apex Crypto At $25K If It Breaks This Level

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