Binance Addresses Community Amid Crypto Market Meltdown
Amid a severe crypto market downturn, Binance has issued an open letter to the community. The exchange highlighted key recent actions, including assisting with 36,648 incorrect deposits worth ~$48 million, protecting 5.4 million users with risk controls, and collaborating with law enforcement to seize $131 million in illicit funds. It also confirmed Proof of Reserves for 45 assets, totaling ~$162.8 billion. Looking ahead, Binance announced it will convert its $1 billion SAFU fund (stablecoin reserves) into Bitcoin over the next 30 days, expressing strong long-term confidence in BTC as a foundational asset. This comes as the market experiences significant declines, with BTC and ETH dropping over 6% and 7%, respectively.
TheNewsCrypto01/30 09:11
