Binance swapped BUSD for USDT and TUSD in its Secure Asset Fund for Users as Paxos honors $7.9 billion in BUSD redemptions.

The world’s largest exchange said the swap was a proactive move to protect user funds as BUSD’s market fall continues to fall.

Binance SAFU Holds at Least $1 Billion After BUSD Replacement

The exchange will continue to ensure that the safety fund has enough money and will increase the SAFU amount periodically using its own money. BUSD is a Binance-branded stablecoin issued by Paxos, which also issues its own Pax dollar.

At current prices, the SAFU’s Bitcoin address holds about 16,000 BTC, worth $438,518,660.

The fund’s BNB and USDT wallet contains roughly 1,364,102 BNB or $458,257,191.

Binance will continue to hold user funds on publicly verifiable addresses and su

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Author: David Thomas

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