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Charles Hoskinson, Cardano's founder, recently emphasized USD Coin (USDC) as an early Central Bank Digital Currency (CBDC), highlighting the increasing importance of stablecoins like USDC in the cryptocurrency landscape.
A cryptocurrency investor recently fell victim to a phishing attack on Ethereum, eventually losing over $180,000 in USD Coin (USDC) and ANDY (ANDY), a recently launched meme coin inspired by Pepe.
In a notable statement, Charles Hoskinson, the founder of Cardano, recently drew attention to USD Coin (USDC) by labeling it as an early Central Bank Digital Currency (CBDC). This characterization sheds light on the growing significance of stablecoins like USDC within the broader cryptocurrency landscape.
In a strategic move aimed at enhancing transparency and regulatory compliance, Binance, the leading cryptocurrency exchange, has converted its $1 billion safety fund into USDC, a stablecoin. This significant transformation seeks to rebuild user trust and pave the way for Binance's return to the Indian market.
In a strategic move aimed at boosting transparency and fortifying trust among users, Binance, the world's largest cryptocurrency exchange, has announced the conversion of its $1 billion safety fund into USDC, a stablecoin. This transformation not only underscores Binance's commitment to regulatory compliance but also sets the stage for its re-entry into the Indian market.
Binance has converted all of the crypto in its $1 billion emergency insurance fund into the stablecoin USDC. The top global crypto exchange established the “Secure Asset Fund for Users” (SAFU) in 2018 to protect Binance users from “extreme situations.
Binance, the world's largest cryptocurrency exchange by trading volume, has converted its $1 billion Secure Asset Fund for Users (SAFU) into USDC. The total SAFU fund is $1 billion, which is around 3% of the total circulating supply of USDC.
Jeremy Allaire, CEO of Circle, recently discussed USDC's operations and the growing importance of stablecoins within the global economy. “We're now seeing essentially stablecoin rules coming into place all around the world.
Since its inception in 2018, SAFU has stood as a beacon of resilience, offering a safety net to users in times of crisis. With the crypto market often fraught with uncertainties, Binance's proactive approach to risk management through SAFU has earned the trust of millions of users worldwide.
Binance has secured a virtual asset securities provider (VASP) license from Dubai's Virtual Assets Regulatory Authority.
Binance, one of the largest crypto exchanges by volume, is making headlines for its decision to convert its insurance fund to the stablecoin USD Coin (USDC). The exchange cited “reliability and stability” concerns for its move to drop other crypto asset holdings like Bitcoin (BTC) and Binance Coin (BNB) for USDC.
Binance, the leading cryptocurrency exchange globally in terms of trading volume, has shifted its SAFU (Secure Asset Fund for Users) reserves into the stablecoin USDC to bolster “its reliability.” During the early hours of Thursday, the platform transferred two substantial amounts of BTC and BNB.
To ensure “reliability and stability” Binance has converted its entire insurance fund of BTC and BNB to USDC. But, what does this mean?
Binance has announced they have completed the swap of all BTC and BNB in the SAFU fund to USDC.
The Secure Asset Fund for Users (SAFU), established by Binance in 2018, acts as a financial safety net for its users during times of extreme market volatility. By converting the entire fund into USDC, Binance aims to provide greater certainty and reliability to its users, especially during turbulent market conditions.
Binance has converted $1 billion of its emergency user safety fund to Circle's stablecoin, although the exchange did not explain why. The post Binance converts $1B emergency fund to USDC appeared first on Crypto Briefing.
As part of its SAFU policy, Binance will transfer BTC, BNB, and USDT into USDC holdings.
This fund underscores Binance's commitment to user safety and security, distinguishing it from other cryptocurrency exchanges. Over the years, SAFU has proven to be a crucial element in Binance's strategy to enhance user trust and security.
Binance has completed the conversion of its Secure Asset Fund for Users (SAFU) into Circle's USD Coin (USDC) stablecoin, according to on-chain data. In an April 18 statement, Binance confirmed transferring 100% of SAFU's assets to the USDC stablecoin.
Binance makes a second conversion of its SAFU emergency fund in just over a year.
Exchange Binance has converted 100% of its Secure Asset Fund for Users (SAFU) assets to stablecoin USD Coin. The firm established SAFU in 2018 as an emergency fund for customers during extreme situations. Previously, Binance's wallets held Binance Coin (BNB), Tether (USDT), Bitcoin (BTC), and TrueUSD (TUSD).
Binance, the world's largest cryptocurrency exchange, is now converting its billion-dollar Secure Asset Fund for Users (SAFU) to USD Coin (USDC). This move aims to bolster user trust by utilizing a more stable and transparent stablecoin.
Binance, the top crypto exchange, through the Secure Asset Fund for Users (SAFU), has disclosed an unprecedented financial arrangement for the whole transfer to the Dollar Coin (USDC).
Crypto exchange Binance has made a notable reorganizational move for its billion-dollar SAFU insurance fund, with all the assets in it converting into the USDC stablecoin.
