Binance replaces BUSD in SAFU Fund with TUSD & USDT
Binance assured its users that this change will not impact them in any way, and that their funds will continue to be held in publicly verifiable addresses. Cryptocurrency exchange Binance announced on March 17 that it has replaced BUSD holdings in the Secure Asset Fund for Users (SAFU) with TrueUSD (TUSD) and Tether (USDT). The move comes in response to Paxos' recent decision to stop minting new Binance USD (BUSD), leading to a decrease in BUSD's market capitalization over time. As Paxos will no longer be minting new BUSD, #Binance has swapped the BUSD in the SAFU Fund for TUSD & USDT. This change will have no impact on users, and the funds remain on publicly verifiable addresses. Funds are SAFU.https://t.co/edLVgpdCUQ — Binance (@binance) March 17, 2023 The Secure Asset Fund for Users (SAFU) is an emergency insurance fund that was established by Binance in July 2018 to protect users' funds in case of security breaches or other unforeseen events. Binance committed ...