Binance founder Zhao Changpeng tweeted, “In view of the changes in stablecoins and banks, Binance will convert the remainder of BUSD’s $1 billion industry recovery plan funds into native cryptocurrencies, including BTC, BNB and ETH. Some capital flows It will happen on the chain." Foresight News previously reported that Binance launched the "Industry Recovery Initiative" (Industry Recovery Initiative, IRI), which aims to promote user protection and revitalize the industry, as well as provide common investment opportunities for institutions that are optimistic about the Web3 industry. Allocation funds for the industry recovery plan are all in BUSD.