Binance Adds $300M in Bitcoin to SAFU Fund as Crypto’s Safety Reserves Shift
Key Takeaways
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Binance’s SAFU fund purchased $300 million in Bitcoin, increasing its total holdings to 10,455 BTC.
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The purchase is part of a planned $1 billion conversion of SAFU stablecoins to BTC over 30 days, with an $800 million rebalance safeguard.
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The move follows a sharp early-February Bitcoin selloff that highlighted exchange backstops and transparency concerns.
Binance added 4,225 Bitcoins to its Secure Asset Fund for Users (SAFU) on Monday, converting about $300 million in stablecoins and bringing the fund’s total to 10,455 BTC.
The conversion is part of Binance’s plan announced on Jan. 29 to turn $1 billion of SAFU reserves into BTC within 30 days, with a safeguard to rebalance the fund if its value…
