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Binance to Convert $1B SAFU Fund From Stablecoins to Bitcoin
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Binance plans to convert about $1 billion in stablecoins from its Secure Asset Fund for Users (SAFU) into Bitcoin within 30 days. This decision comes amid scrutiny over Binance's market influence and leadership practices.
Binance has said that it will convert roughly $1 billion held in stablecoins within its Secure Asset Fund for Users (SAFU) into Bitcoin (BTC), with the process set to finish within 30 days.
The move shifts the exchange’s emergency insurance reserve back into BTC and comes as Binance faces renewed scrutiny over market influence, balance sheet practices, and leadership ties to former CEO Changpeng “CZ” Zhao.
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Binance to Move $1 Billion User Protection Fund Into Bitcoin
Binance To Turn Its $1 Billion SAFU Fund Into Bitcoin Amid Horrendous Crypto Market Meltdown
Binance to Convert $1B SAFU Fund From Stablecoins to Bitcoin
Share:
Binance plans to convert about $1 billion in stablecoins from its Secure Asset Fund for Users (SAFU) into Bitcoin within 30 days. This decision comes amid scrutiny over Binance's market influence and leadership practices.
Binance has said that it will convert roughly $1 billion held in stablecoins within its Secure Asset Fund for Users (SAFU) into Bitcoin (BTC), with the process set to finish within 30 days.
The move shifts the exchange’s emergency insurance reserve back into BTC and comes as Binance faces renewed scrutiny over market influence, balance sheet practices, and leadership ties to former CEO Changpeng “CZ” Zhao.
In This News
Share:
In This News
Share:
Read More
Binance to Move $1 Billion User Protection Fund Into Bitcoin