đNews Flashđ
Binance has made a power move! đȘ The exchange is converting its Secure Asset Fund for Users (SAFU) into Circle's USD Coin (USDC).
âą The $1B conversion now makes up about 3% of Circle's total circulating supply of $32.6 billion.
âą SAFU is Binance's emergency insurance reserve, created to protect users from severe scenarios like exchange breaches.
âą The conversion to USDC is aimed at improving reliability and maintaining stability at $1 billion.
This marks the second conversion for the fund in just over a year. Binance is all about evolving to meet market conditions head-on. đ
What do you think about this move? Let's chat in the comments! #Binance #USDC #SAFU #CryptoNews