Binance emergency insurance fund valued at $1B

Cryptocurrency exchange Binance said its Secure Asset Fund for Users, an emergency insurance fund, was valued at $1B based on the opening price on Jan. 29. The fund, which was established by Binance in July 2018 to protect users' interests, can be viewed in two wallet addresses and comprises binance coin (BNB-USD), BUSD (BUSD-USD) and bitcoin (BTC-USD). The wallet addresses are here and here. Binance commits a percentage of trading fees in order to grow the fund to a sizeable level to safeguard users' interests, the company said. "We always said 'funds are safe', and today the Binance Secure Asset Fund size acts as an effective safeguard as well as protection for users against such unlikely issues, said Binance Founder and CEO Changpeng Zhao. "Coupled with our state of the art security, we are confident that our user's interests are well-protected," he added. Previously, (Dec. 13, 2021) Binance withdrew its