Binance moves $1bn SAFU fund into USDC for enhanced stability and real-time tracking.
Binance, the world's largest cryptocurrency exchange, has shifted its $1bn emergency fund, Secure Asset Fund for Users (SAFU), entirely into USDC, a stablecoin pegged to the U.S. dollar. The move aims to enhance the fund's stability and reliability, trackable in real-time via blockchain. This strategic shift aligns with Binance's broader efforts to stabilize its platform amid market volatility.
April 18, 2024
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