Representatives of the Binance exchange announced that the SAFU insurance fund was replenished to the amount of $1 billion. Thus, the team wants to attract customers and provide them with confidence in the project, despite the unstable market situation.
On Nov. 9, Changpeng Zhao announced that the insurance fund had been replenished with $700 million in BUSD and BNB stablecoins, and another $300 million in Bitcoin (BTC). Links to transactions were provided as confirmation.
SAFU serves as a fund to insure and protect clients in emergencies. Its launch took place in 2018. In January of this year, the fund was valued at $1 billion. However, this figure constantly changed value, depending on market conditions. Therefore, Zhao decided to supplement the SAFU balance to the required level.
РEarlier it became known that Binance was carrying out technical work to improve Ethereum wallets. The update was successful and all clients can continue trading.
