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News Explorer — Binance Converts SAFU Fund Into USDC, Aims to Keep Balance at $1 Billion

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Apr 18, 6:16 am
Unchained Crypto

Binance Converts SAFU Fund Into USDC, Aims to Keep Balance at $1 Billion

Binance has converted its Secure Asset Fund for Users (SAFU) into Circle's USDC stablecoin, aiming to enhance the fund's reliability and maintain a balance around $1 billion. The SAFU fund's assets, including Binance Coin (BNB) and Bitcoin (BTC), were transferred into USDC and other wallets associated with the fund. These transfers have been speculated to contribute to recent price volatility in the Bitcoin market.

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