CZ: $1 Billion Industry Recovery Fund Will Be all BUSD

Nov 25,2022
KingData News: Responding to a question about the composition of the SAFU insurance fund, Binance founder CZ said in a tweet that Binance SAFU insurance fund ($1 billion USD equ) is roughly split between BTC, BUSD, and BNB. Just that BNB price rose faster than BTC since last rebalance. The $1 billion Industry Recovery Fund will be all BUSD. The SAFU Insurance Fund and Industry Recovery Fund positions are fully disclosed on the blockchain. In previous news, CZ said in an interview that Binance will set up a fund of about $1 billion to buy distressed assets in the crypto space. Willy Woo tweeted that 44% of the Binance SAFU fund is BNB, with BTC being the lowest percentage.
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