At Binance, we are always looking for ways to protect our users and ensure that their assets remain secure. Recently, Paxos announced that it would no longer be minting new BUSD tokens. In response to this news, we have decided to swap out the holdings of BUSD from our Secure Asset Fund for Users (SAFU) with TUSD and USDT.
This change is meant to ensure long-term protection of user funds in SAFU as the market capitalization of BUSD continues decreasing over time. Rest assured that this will not impact any users; these funds will continue being stored on publicly verifiable addresses as before. Additionally, there is no need for concern about SAFU’s level of capitalization – we will be monitoring it closely and topping up its reserves periodically if necessary using our own company funds if required..
To provide further transparency into how your assets are protected by us at all times here are some details regarding the current wallets used by SAFU:
-BNB & USDT (BEP20): 0x4B16c5dE96EB2117bBE5fd171E4d203624B014aa
-TUSC(ERC20):0x4B16c5dE96EB2117bBE5fd171E4d203624B014aa
We understand how important trust is when dealing with digital currencies which why you can rest easy knowing your money is safe in a secure fund like ours! For more information about what exactly Safu does please visit https://www.binancezhongwen/safu/. Thank you!
