Binance tapped its insurance fund after the hack. What’s left?

Binance has drawn on a reserve used to absorb losses from bankrupt futures positions as it replaces stolen cryptocurrency. The exchange says it moved only excess funds, while published balances give traders a partial view of the protection that remains. Binance has used part of its futures insurance fund to help replace assets stolen in its $6.3 billion hack, drawing on a reserve normally used to absorb losses from bankrupt trading positions. Binance’s October 31 recovery update names the fund alongside its Secure Asset Fund for Users, known as SAFU, and corporate treasury money.

Source: crypto.news