Binance Tops Up Emergency Fund As Market Crashes

Binance Puts $1 Billion in SAFU Insurance Amid High Volatility

Binance CEO revealed that they have topped up the Secure Asset Fund for Users insurance to $1 billion USD equivalent again.

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CZ revealed in a tweet that they are topping up the insurance fund to adjust to recent price fluctuations.

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BUSD and BNB addresses have around $700 million and the BTC address around $300 million.

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SAFU is an emergency insurance fund that was created by Binance in July 2018 to protect users' funds.

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The Secure Asset Fund was valued at $1 billion based on the opening price on January 29, 2022.

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The emergency insurance fund wallets comprise BNB, BUSD, and BTC.

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FTT crashed nearly 75% after Binance announced that it has signed a letter of intent to acquire FTX.

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