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Binance Stacks More Bitcoin as SAFU Fund Holdings Reach 10,455 BTC


by Coin Edition
for CoinEdition
Binance Stacks More Bitcoin as SAFU Fund Holdings Reach 10,455 BTC

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  • Binance SAFU fund bought another 4,225 BTC worth about $300 million.
  • Total SAFU Bitcoin purchases now stand at 10,455 BTC worth $734 million.
  • Binance plans to convert SAFU reserves into a $1 billion Bitcoin allocation.

The SAFU (Secure Asset Fund for Users) reserve of Binance has purchased an additional 4,225 Bitcoin worth about $300 million, bringing the fund’s total acquisitions to 10,455 BTC, valued at roughly $734 million. The purchases are part of the exchange’s broader plan to convert the SAFU fund into approximately $1 billion worth of Bitcoin over the next 30 days.

Binance also said it will continue buying Bitcoin if the value of the reserve drops below $800 million, effectively maintaining a long-term allocation close to the $1 billion level. The shift marks a change from holding SAFU reserves partly in stablecoins to maintaining a permanent Bitcoin-ba…

Read The Full Article Binance Stacks More Bitcoin as SAFU Fund Holdings Reach 10,455 BTC On Coin Edition.

Read the article at CoinEdition

In This News

Coins

$ 70.17K

-1.12%

$ 0.264

-2.32%

$ 0.0000272

$ 0.00262


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In This News

Coins

$ 70.17K

-1.12%

$ 0.264

-2.32%

$ 0.0000272

$ 0.00262


Share:

Read More

Traders Debate Binance SAFU Fund’s Role as a Market Signal After $734 Million Bitcoin Purchase

Traders Debate Binance SAFU Fund’s Role as a Market Signal After $734 Million Bitcoin Purchase

In Brief Binance converted $734 million into Bitcoin as part of its plan to shift SA...
Binance Adds BTC to SAFU Fund, Gets Praise from Founder CZ

Binance Adds BTC to SAFU Fund, Gets Praise from Founder CZ

Binance has added more bitcoins to its SAFU Fund. The move comes at a time when BTC p...

Binance Stacks More Bitcoin as SAFU Fund Holdings Reach 10,455 BTC


by Coin Edition
for CoinEdition
Binance Stacks More Bitcoin as SAFU Fund Holdings Reach 10,455 BTC

Share:

  • Binance SAFU fund bought another 4,225 BTC worth about $300 million.
  • Total SAFU Bitcoin purchases now stand at 10,455 BTC worth $734 million.
  • Binance plans to convert SAFU reserves into a $1 billion Bitcoin allocation.

The SAFU (Secure Asset Fund for Users) reserve of Binance has purchased an additional 4,225 Bitcoin worth about $300 million, bringing the fund’s total acquisitions to 10,455 BTC, valued at roughly $734 million. The purchases are part of the exchange’s broader plan to convert the SAFU fund into approximately $1 billion worth of Bitcoin over the next 30 days.

Binance also said it will continue buying Bitcoin if the value of the reserve drops below $800 million, effectively maintaining a long-term allocation close to the $1 billion level. The shift marks a change from holding SAFU reserves partly in stablecoins to maintaining a permanent Bitcoin-ba…

Read The Full Article Binance Stacks More Bitcoin as SAFU Fund Holdings Reach 10,455 BTC On Coin Edition.

Read the article at CoinEdition

In This News

Coins

$ 70.17K

-1.12%

$ 0.264

-2.32%

$ 0.0000272

$ 0.00262


Share:

In This News

Coins

$ 70.17K

-1.12%

$ 0.264

-2.32%

$ 0.0000272

$ 0.00262


Share:

Read More

Traders Debate Binance SAFU Fund’s Role as a Market Signal After $734 Million Bitcoin Purchase

Traders Debate Binance SAFU Fund’s Role as a Market Signal After $734 Million Bitcoin Purchase

In Brief Binance converted $734 million into Bitcoin as part of its plan to shift SA...
Binance Adds BTC to SAFU Fund, Gets Praise from Founder CZ

Binance Adds BTC to SAFU Fund, Gets Praise from Founder CZ

Binance has added more bitcoins to its SAFU Fund. The move comes at a time when BTC p...