Binance's Zhao Changpeng responds to concerns over SAFU fund allocation imbalance: Rapid increase in BNB price is the cause
The cryptocurrency community has questioned the balance of Binance's famous SAFU fund, with BNB accounting for nearly 44%, Binance founder Changpeng Zhao (CZ) finally responded after a night of FUD rumors.
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CZ Responds: BNB Price Surge Causing Imbalance
Twitter user frxresearch, who holds a contrary opinion, responds:
Binance's funds are idle with no leverage, stored on-chain for transparency. FTT, on the other hand, carries excessive leverage, debt, and fraud, lacks liquidity, and only a pitiful insect would make misleading criticisms against something good.
CZ also retweeted frxresearch's post, stating:
Binance's SAFU fund of $1 billion is roughly allocated among BTC, BUSD, and BNB. Since the last rebalancing, BNB's price increase has outpaced BTC. Binance allocated another $1 billion yesterday for industry recovery projects, both funds are transparently on-chain.
#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.
Yesterday, #Binance allocated ANOTHER $1 billion to the industry recover initiative.
Both publicly on the blockchain. https://t.co/Dpu9tNx5NQ
— CZ 🔶 Binance (@cz_binance) November 25, 2022