Binance SAFU Fund completes $1B Bitcoin accumulation

Global crypto exchange Binance has successfully completed the conversion of its $1 billion Secure Asset Fund for Users (SAFU) reserves from stablecoins entirely into Bitcoin (BTC). This final transition involved acquiring 4,545 BTC for over $305 million on Thursday, bringing the total SAFU holdings to 15,000 BTC, valued at over $1 billion according to Arkham Intelligence data. Binance completed this conversion in under 13 days, significantly faster than the initially scheduled 30 days from January 30. The exchange stated it will monitor the fund and rebalance it if its market value drops below $800 million. This move signals Binance's strong confidence in Bitcoin as the core asset and a long-term store of value within the crypto ecosystem, despite recent market volatility.

(Source：Crypto Briefing)