According to the announcement released by Binance, the exchange has announced that it will transfer $1 billion worth of assets from the Secure Asset Fund for Users (SAFU) to USDC. Binance stated that using a trusted, audited, and transparent stablecoin for SAFU can further enhance its reliability and ensure its stability at $1 billion.
The USDC address used by the SAFU fund is: 0x4B16c5dE96EB2117bBE5fd171E4d203624B014aa.
The Secure Asset Fund for Users (SAFU) is an emergency insurance fund established in 2018 to protect Binance users in extreme situations. In the past, the fund held assets such as BNB, BTC, USDT, and TUSD, but now they have all been converted to stablecoins.
