SAFU

On March 17th, Binance announced that it had converted the BUSD held in the User Security Asset Fund (SAFU) into TUSD and USDT to ensure long-term protection of users in the event of a continuous decline in the BUSD market. Binance stated that SAFU funds will be closely monitored to ensure their capital adequacy, and when necessary, use Binance’s own funds to regularly replenish funds. Coin An converts the BUSD in the SAFU fund into TUSD and USDT Analysis based on this information:On March 17th, Binance made an announcement regarding its User Security Asset Fund (SAFU). The company disclosed that it had converted the amount of BUSD held in the fund into TUSD and USDT. This decision was taken with the aim to provide long-term protection to the users’ funds in the event of a possible decline in the BUSD market. BUSD is a stablecoin that is pegged to the US dollar, and it is issued by the Paxos Trust…