This process has begun!

it's only 10% complete, there's still over 900M left.

$BTC price surged from 74k to 77k.

This is an emergency reserve fund established by Binance in July 2018, designed to protect user assets in serious situations such as:

+ Cyberattacks (hacking)

+ Security breaches

+ Major system failures

+ Other force majeure events resulting in asset losses on the exchange

The fund is maintained at 1billion, previously held entirely in stablecoins (USDC).

Recently, Binance committed to converting the entire 1 billion from stablecoins to Bitcoin within 30 days, as part of its long-term commitment to the industry and its belief in the long-term value of BTC.

Binance deserves respect for its significant contributions to the market.$BNB

BNBUSDT

Perp

691.88

-9.03%

BTCUSDT

Perp

72,088.5

-5.66%