Binance Ditches BUSD To Adopt Rival Stablecoins For "Safu Fund"; BUSD's Reign Coming To An End?

Binance News: Back on January 29, 2022, Binance unveiled the “Secure Asset Fund for Users (SAFU), which is an emergency insurance fund valued at $1 billion to safeguard its users from any catastrophic event. The SAFU fund wallets were initially stocked with BNB, BUSD, and BTC. However, in light of Paxos being asked to stop minting new BUSD by the New York state regulators, Binance has swapped out BUSD assets in the fund for two major stablecoins competing in the market.