According to Binance’s announcement, since Paxos announced that it would no longer mint new BUSD, Binance has replaced the BUSD balance in the Investor Protection Fund (SAFU) with TUSD and USDT. As the market value of BUSD continues to decline over time, this move is intended to continuously protect users.
This swap will not affect users, who can still verify these assets on publicly verifiable addresses. In addition, users can continue to use BUSD on the Binance platform. Binance will closely monitor the size of the SAFU fund and replenish the fund with Binance's own assets from time to time to ensure that the fund is sufficient.
