Binance's SAFU fund created during the bear market may have "doubled" and has been rebalanced to $1 billion

According to BlockBeats, on April 18, Binance's SAFU fund, which was previously established in the bear market, may have "doubled". According to Spot On Chain monitoring data, Binance announced today that it would convert the user security asset fund assets (SAFU) to USDC to enhance stability. A total of 16,277 BTC (about US$1 billion) and 1.36 million BNB (about US$749 million) have been transferred from 2 SAFU wallets and deposited back into CEX's hot wallet. Now, the balance of the 2 SAFU wallets is still 1 billion USDC. BlockBeats previously reported that on November 9, 2022, Binance founder CZ posted that in order to adapt to recent price fluctuations, Binance has recharged the user security asset fund (SAFU) to the equivalent of US$1 billion, with BUSD and BNB addresses of about US$700 million and BTC addresses of about US$300 million.