The value of Binance Coin (BNB) has experienced a notable surge, as it is currently trading at $309.83, with a 24-hour trading volume of $1,448,739,161. This represents an impressive increase of 13.00% in the past 24 hours and a 7.85% increase over the last seven days. 

BNB rises 13% as Binance adapts

The market capitalization of BNB, based on its circulating supply of 160 million BNB, is currently valued at $49,282,559,059. These figures highlight the growing popularity and demand for Binance Coin among investors and traders in the cryptocurrency market.

Recently big banks like silvergate and SVB have experienced a crackdown leading to their demise. 

In light of recent developments in the stablecoin and banking industries, Binance has announced its decision to convert the remaining $1 billion Industry Recovery Initiative funds from BUSD to native cryptocurrencies such as BTC, BNB, and ETH. 

This conversion will involve some on-chain fund movements to ensure complete transparency. By converting these funds to native cryptocurrencies, Binance is positioning itself to adapt to the rapidly evolving cryptocurrency landscape while remaining committed to providing full transparency to its users.

Binance CEO, Zhao, has hinted at the possibility of purchasing banks in response to the recent issues faced by crypto-friendly banks. In a tweet, he shared a 2022 news story that suggested Binance was cons

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Author: Samuel Mbaki Wanjiku

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