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Binance Uses Half of SAFU Fund Bitcoin Holdings, Publishes Reserve Proof
(5 hours ago) · 1 source · Summarized by CryptoBipto
Binance has reportedly spent or moved approximately half of the Bitcoin held in its Secure Asset Fund for Users (SAFU), an emergency insurance fund. The exchange has released proof-of-reserve data related to the fund, though the reasons for the reduction remain unclear.
WHY IT MATTERS
Think of the SAFU fund like an insurance policy that Binance set aside to protect its users if something goes wrong, such as a hack.
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SOURCES
- cointelegraph.com
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BTCBinanceSAFU FundProof of ReservesExchange TransparencyUser Protection
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