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.