The Binance blog post states that the User Safe Asset Fund (SAFU) is an emergency insurance fund established in 2018 to protect Binance users in extreme situations, which is one of the important differences between Binance and other exchanges. For many years, Binance has been monitoring the size of SAFU and maintaining a balance of funds to protect users enough. Although it fluctuates, it usually remains at the level of 1 billion dollars.
SAFU remains a core part of Binance's eco-responsibility, and Binance is constantly evolving to respond to market conditions. Now, Binance is converting 100% of SAFU's assets to USDC. Managing SAFU with a trusted, audited, and transparent stablecoin further enhances its reliability and ensures it remains stable at $1 billion.
Binance Converts User Safe Asset Fund (SAFU) Assets into USDC
2024-04-18 03:01:01
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