'Binance announced that it will convert all of its Secure Asset Fund for Users (SAFU) from BTC BNB USDT TUSD to $USDC. SAFU is usually set at $1 billion'

4? 😱

DeBank: nerd | Lens: nerrd | X: realnerrd | Stay /onchain

Ethereum enthusiast, privacy advocate and Hambassador 🍖

Fair, my perspective was rather on the safety aspect of the assets, so now it is a really emergency fund. I think the impact depends on how the asset split, e.g.  amount of USDT etc, was and if they plan to market sell it. Seems also suspicious timing wise to me.

What's good for us about Binance selling BTC and BNB? I don't think that's good news, sir