Binance converts $1 billion user asset protection fund into USDC

According to BlockBeats, on April 18, Binance announced that it would transfer 100% of the assets of the User Asset Protection Fund (SAFU) to USDC. Using a trusted, audited, and transparent stablecoin for SAFU can further enhance its reliability and ensure its stability at $1 billion. The SAFU Fund is an emergency insurance fund established in 2018 to protect Binance users in extreme situations, and it remains an important component that distinguishes it from other trading platforms. Over the years, Binance has continuously monitored the size of SAFU to maintain the balance at a level sufficient to protect our users. Despite fluctuations, the level is generally set at $1 billion. SAFU funds are now visible at the following USDC address: 0x4B16c5dE96EB2117bBE5fd171E4d203624B014aa.