TechFlow news — CZ responded on his social media platform regarding the composition of the SAFU insurance fund, stating that the SAFU fund consists of BTC, BUSD, and BNB. Since the last rebalancing, the price of BNB has risen faster than that of BTC. Additionally, the $1 billion Industry Recovery Fund will be entirely in BUSD. Holdings of both the SAFU Insurance Fund and the Industry Recovery Fund are fully transparent and publicly available on the blockchain.
Previously reported, on November 24, CZ mentioned during a live interview with Bloomberg that Binance would establish a fund of approximately $1 billion to purchase distressed assets in the crypto industry.Source link
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