.Binance token-related addresses were topped up with over $700 million in different tokens, while a bitcoin address was funded with $300 million. By shauryamalwa.
"To adjust to recent price fluctuations, #Binance has topped up the #SAFU insurance fund to $1 billion USD equivalent again," Zhao tweeted.
SAFU is an emergency insurance fund that was established by Binance in July 2018 to protect users' funds. When the fund was established, Binance committed a percentage of trading fees to grow it to a sizable level to safeguard users. The fund's value fluctuates based on the market and SAFU fund wallets comprise BNB, BUSD, and BTC.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Crypto Market Liquidations Hit $300 Million in Last 12 Hours, Bull Market Canceled?$FTT and $ETH are the two biggest liquidation providers on the market today, thanks to the FTX situation
Read more »
FTX Token Falls 80% Despite Binance Bailout as Alameda Contagion Spreads to BitcoinThe FTX exchange’s FTT token dump could theoretically wipe out billions from Alameda's balance sheet, deepening its financial woes, according to an analyst. Bitcoin (BTC) hits 23-month low. sndr_krisztian reports
Read more »
FTX CEO Sam Bankman-Fried Denies Insolvency Rumors as Binance Liquidates FTT TokenFTX CEO SBF_FTX has dismissed speculation over whether the company has enough capital to cover its customer deposits. Reporting by oknightcrypto
Read more »
Open Interest in FTT Futures Doubles as Binance Moves to Liquidate FTX Token HoldingsOpen interest in futures tied to FTT has doubled to $203 million as traders scramble to hedge against potential slide in FTX's native token. Reports godbole17.
Read more »
FTX Token price risks 30% plunge as a 23M FTT 'part' moves to BinanceAlameda Research reportedly obtained $2.2 billion worth of loans using FTT as collateral, a token created by its sister company, FTX.
Read more »