AN UPDATE FROM BINANCE
We've now completed coverage of assets impacted in the security incident. Following the incident, we committed more than $6.34 billion in company funds to cover the losses and began sourcing affected tokens through market and OTC channels. That process was funded through a combination of a partial deployment of SAFU, a portion of Binance's Futures insurance fund (above the level required under our risk-management framework), and our own corporate treasury.
We've also committed to replenishing SAFU to return the fund to approximately US$1 billion, so it remains fully resourced as an emergency user-protection reserve.
We've now completed coverage of assets impacted in the security incident. Following the incident, we committed more than $6.34 billion in company funds to cover the losses and began sourcing affected tokens through market and OTC channels. That process was funded through a combination of a partial deployment of SAFU, a portion of Binance's Futures insurance fund (above the level required under our risk-management framework), and our own corporate treasury.
We've also committed to replenishing SAFU to return the fund to approximately US$1 billion, so it remains fully resourced as an emergency user-protection reserve.