Binance’s CEO said the world’s largest cryptocurrency exchange increased its Secure Asset Fund for Users (SAFU) to $1 billion again.
This comes as a result of the recent market plunge, and its purpose is to grant customers maximum protection in case of another possible negative event.
Changpeng Zhao (CZ) tweeted that his trading venue topped up its SAFU insurance fund to $1 billion. BUSD and BNB holdings account for $700 million of the total sum, while BTC’s address makes up the remaining $300 million.
The executive outlined that the move could offer transparency and additional security to clients during the current challenging times.
To adjust to recent price fluctuations, #Binance has topped up the #SAFU insurance fund to $1 billion USD equivalent again.
BUSD AND BNB address about 700m: https://t.co/OMoB6HeR6r
BTC address 300m: https://t.co/6kOJ1MZhMM
Transparency. 1/2
— CZ Binance (@cz_binance) November 9, 2022
Binance established the SAFU in 2018 as an emergency insurance
We współpracy z: https://cryptopotato.com/binance-tops-up-its-insurance-fund-to-1-billion-following-ftx-crash/
