Binance is Converting User Fund to Bitcoin.

Binance Restructures User Security Fund

Binance announced that it will convert the stablecoin assets in its 1 billion dollar User Security Fund into Bitcoin within the next 30 days. This change is being seen as a measure against volatility in the cryptocurrency market.

Binance committed to restoring the fund to 1 billion dollars in case the fund's value falls below 800 million dollars, depending on the fluctuations in the Bitcoin price.

The company stated that this move is part of its long-term industry development efforts. Regular audits will also be conducted to protect users' assets.