Binance Completes $1B SAFU Fund Shift to Bitcoin
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Binance has completed its conversion of the $1 billion Secure Asset Fund for Users (SAFU) from stablecoins to Bitcoin, acquiring a total of 15,000 BTC. This strategic shift from dollar-pegged assets to Bitcoin underscores the exchange's commitment to crypto adoption and user protection.
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Binance announced on Thursday that it has finished converting its $1 billion Secure Asset Fund for Users (SAFU) from stablecoins into Bitcoin, purchasing a final tranche of 4,545 BTC and bringing total holdings to 15,000 BTC.
The exchange’s decision to shift its emergency insurance reserve into BTC rather than a dollar-pegged asset reversed its position from April 2024 and placed roughly $1 billion of user protection funds directly into the cryptocurrency with the largest market cap.
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