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.
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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