Binance's SAFU Fund Grows Stronger: $1 Billion in Bitcoin Reserves Shifted to USDC! In a bold move to fortify user protection, Binance, led by CZ, has made a significant shift. The
SAFU program, introduced in 2018, has been the industry's beacon of trust and security.
On April 17, Binance made headlines by announcing the relocation of
16,276.99 BTC from the SAFU wallet to their hot wallets. But that's not all –
$738.10 million worth of BNB also found a new home outside the fund.
To further enhance stability, Binance unveiled a fresh wallet address with an impressive
1 billion USDC tokens. This strategic move solidifies their commitment to maintaining the
$1 billion threshold.
It's worth noting that the SAFU fund faced a minor setback in November 2022, dipping to $735 million due to market fluctuations. However, Binance swiftly restored it to its former glory.
With this latest maneuver, Binance once again proves its dedication to user safety and industry transparency. Other exchanges take note –
SAFU is not just a buzzword; it's a game-changer.
