Binance SAFU expands Bitcoin holdings with $300M purchase
Binance added $300 million worth of Bitcoin to its SAFU fund, completing about 73% of its planned stablecoin conversion.Summary
Binance has significantly bolstered its Secure Asset Fund for Users (SAFU) by purchasing 4,225 Bitcoin, valued at approximately $300 million, bringing the fund's total holdings to 10,455 BTC, worth about $734 million. This move is part of a larger treasury strategy announced on January 30, where Binance intends to convert $1 billion in stablecoin reserves into Bitcoin over 30 days. The exchange has currently completed about 73% of this conversion target. The SAFU fund acts as an insurance reserve to protect customer deposits against security breaches or operational failures, and the shift toward Bitcoin-denominated reserves aligns with a broader industry trend of using Bitcoin as a hedge against inflation and stablecoin risks.
(Source：Crypto Briefing)