Binance replaces BUSD in SAFU fund with TUSD and USDT

Cryptocurrency change Binance introduced on March 17 that it has changed the Binance USD (BUSD) holdings in its Safe Asset Fund for Customers (SAFU) with TrueUSD () and (USDT). The transfer is available in response to Paxos’ latest transfer to cease minting new BUSD, which has led to the asset’s market capitalization falling.

SAFU is an emergency insurance coverage fund established by Binance in July 2018 to guard customers’ funds in case of safety breaches or different unexpected occasions. Binance dedicated a share of buying and selling charges to develop the fund, which was valued at $1 billion as of Jan. 29, 2022. SAFU’s wallets initially consisted of BNB (BNB), (BTC) and Binance USD — which has now been changed by TUSD and USDT.

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