Cryptocurrency analyst Willy Woo has criticized the fact that close to half of Binance’s $1 billion Safe Asset Fund (SAFU) consists of the exchange’s native token, BNB. Binance CEO’s response was harsh.
Willy Woo is on his official social media account on November 24. in his post, About Binance’s SAFU 1 billion dollars amount of crypto insurance fund 367 million He questioned how acceptable it was to include $100 BNB. Woo suggested that this situation is similar to FTX issuing a recovery fund filled with FTT.
in SAFU fund 937 million Binance provable that the dollar was created for use on Binance and Binance Custody 68 billion According to the latest data, Binance Custody, which has a dollar reserve, 800 million It was also among the information given by Woo that he had a dollar reserve. Users on social media after Woo’s post 69 billion dollar worth of assets 1 billion dollars He questioned whether it is possible to be guaranteed with the insurance fund.
Binance CEO Changpeng Zhao also posted on his official social media account on November 25 that Woo’s in response to your postroughly the SAFU fund Bitcoin, BUSD and BNB and that after this distribution, the price of BNB is higher than BTC. rising faster stated. Moreover 24 November as a company for an attempt to save the industry another 1 billion dollars stated that they allocate.
On the other hand, another user, Binance not using leverage their reserves fully support and on the network keep it public stating only poor people saying that you will look at something good and make misleading reviews He replied to Woo.