Giant Crypto Exchange Binance’s CEO Richard Teng, the stock market adopted security measures made statements. In the midst of the current volatility in the crypto currency market, a small damage is understandable, but not to lose your money to malicious people. Nevertheless, people are often victims of fraudsters who often target users’ online accounts. Binance CEO Richard Teng also draws attention to this situation.
Binance CEO drew attention to the basic security measures!
Richard Teng, CEO of Binance, the world’s largest crypto currency exchange, guaranteed users that safety is still the most important priority in the stock market in a message in X. He emphasized that the safety of users is the priorities of the security of the stock market, even in regions where crypto arrangements are not explicitly defined. Teng talked about Binance’s efforts to create confidence in the crypto sector and to increase the security initiative.
In this context, the creation of the Secure Asset Fund (SAFU) for users shows Binance’s commitment to financial security. This spare fund created to protect users in case of unpredictable events. Such events include the attacks of malicious actors on the stock market or some problems on the platform.
Binance launched SAFU application in 2018. This fund is the reserves of traditional banks, as well as an emergency fund of over $ 1 billion. Binance CEO also emphasized the responsible trade program specially designed to promote safe trade habits and to eliminate concerns about market manipulation.
Exchange users called for more protection
Binance CEO Richard Teng, Binance reserve evidence is another way to create confidence in the stock market, he said. The proof of the reserve allows users to confirm that Binance has sufficient reserves to support customer deposits. This measure is reassuring, especially when the loss of FTX users when the stock market collapses.
Some users have accepted their efforts to assure them about the security of Binance’s funds in the stock market. They also stated that when Richard Teng took the role of CEO, he fulfilled the promise of Binance’s promise to be adhered to the basic values. However, some stated that more measures should be applied to protect the platform and individual investors. In this context, they asked Teng to take my step in this regard.
