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Binance CEO says with recent “changes” in stablecoins and banks, the company’s recovery fund will be converted from BUSD to “native cryptos" such as BTC. The failure of three major crypto-backing banks, Silicon Valley Bank (SVB), Silvergate Bank and Signature Bank caused the stablecoin (USDC) to fall to as low as $0.87 from its $1 benchmark.  Amid the concern mounting around stablecoins, Binance CEO and co-founder Changpeng (CZ) Zhao tweeted on March 13 that with the “changes in stablecoins and banks,” it will be converting the remaining $1 billion funds in its Industry Recovery Initiative into “native crypto." Given the changes in stable coins and banks, #Binance will convert the remaining of the $1 billion Industry Recovery Initiative funds from BUSD to native crypto, including #BTC, #BNB and ETH. Some fund movements will occur on-chain. Transparency. — CZ Binance (@cz_binance) March 13, 2023 The native cryptos listed by CZ included Bitcoin (BTC), Binance Coin (BNB) an...

Two prominent Solana projects have announced they are transitioning over to new block chain s. The non-fungible token (NFT) venture Degods detailed it will be moving to the Ethereum chain and the Y00ts NFT team detailed it is moving to Polygon. Both teams said the transitions will take place in 2023. Degods Says NFT Project Will Move to Ethereum, Y00ts Details NFT Venture Is Transitioning to Polygon The crypto community has been discussing two crypto projects that have said the teams plan to transition their ventures from the Solana block chain network to an alter native block chain . Degods is one NFT project that revealed on Twitter it was moving from Solana to the Ethereum network. Launched in October 2021, Degods is an NFT venture that created 10,000 deflationary PFP (profile picture) NFTs. On Twitter the Degods team said: Degods will officially bridge to Ethereum in Q1 of 2023. The bridge is not the destination. It is on the path to get there. Interestingly, the team behind...