The crypto exchange previously held some of the assets in the insurance fund in USDC. With the latest decision, it was stated that converting all of the assets into USDC will increase the reliability of the fund.
Binance established an emergency fund called SAFU in 2018 to protect users' assets in extraordinary situations. The fund has grown over time, and in its final form, the size of the fund is set to be about $ 1 billion.
In the statement made, it was emphasized that the asset conversion will take place today, thus emphasizing that using a reliable, audited and transparent stable cryptocurrency in SAFU will further increase reliability. In addition, while underlining the reliability of USDC in the market, it was stated that this change will help keep the fund stable at $ 1 billion.
In the statement made on Binance's official blog site, SAFU's USDC address was announced as: 0x4B16c5dE96EB2117bBE5fd171E4d203624B014aa.
