Part of Our USDT and ETH Insurance Fund Will Be Reallocated

September 29, 2023

Over the next few weeks, we will perform a reallocation of our Insurance Fund allocations, with Tether and ETH balances to be exchanged for USD, which will then be held in custody accounts with our banking partners. You can find the exact amounts held in the Insurance Fund here. No changes have been made to the mechanics of allocation or drawdown of funds from the Insurance Fund. The reallocation of funds is expected to take several weeks, and will begin on 28 September 2023. If you would like to know more about how the Insurance Fund operates you can read more either here and/or here.

The source of this news is from BitMEX