According to the announcement released by Binance, the exchange has declared that it will transfer 1 billion dollars’ worth of assets from the Secure Asset Fund for Users (SAFU) to USDC. Binance stated that using a trusted, audited, and transparent stablecoin for the SAFU will further enhance its reliability and ensure its stability at 1 billion dollars.
The USDC address used for the SAFU fund is: 0x4B16c5dE96EB2117bBE5fd171E4d203624B014aa.
The Secure Asset Fund for Users (SAFU) is an emergency insurance fund established in 2018, with the aim of protecting Binance users in extreme situations. In the past, the assets in this fund included BNB, BTC, USDT, and TUSD, but now they have all been converted to stablecoins.
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