Binance proves its faith in Bitcoin with 1 billion USD
Instead of holding stablecoins as before, Binance's insurance fund #SAFU will transfer 1 billion USD to Bitcoin, completing within 30 days.
If $BTC drops sharply causing the fund's value to fall below 800 million USD, Binance will rebalance to ensure that the fund always maintains a level of 1 billion USD.
Binance stated that this move stems from the belief that BTC is the core asset of the crypto ecosystem, ready to stand by the industry through market cycles and periods of instability.
