Binance All-In to Bitcoin: SAFU Fund of $1 Billion Now Fully in BTC

Binance has officially converted the entire Secure Asset Fund for Users (SAFU) amounting to approximately $1 billion into Bitcoin. This move was concluded with the latest purchase of 4,545 BTC, bringing the total SAFU reserves to 15,000 BTC with an estimated value of around $1.005 billion.

The SAFU fund itself was established after the hacking incident in 2019 that caused losses of around $40 million. Now, all of these reserves are stored in BTC and can be transparently verified through a public wallet address.

The accumulation process was conducted in stages, including the purchase of 4,225 BTC three days prior and 3,600 BTC a week ago. The last transfer was recorded on the blockchain on February 11 at 22:57 UTC. Binance also stated it would perform rebalancing if the fund value drops below $800 million.

This decision was made amid the correction of Bitcoin prices from $77,000 to $67,000, indicating Binance's commitment to user protection while also strengthening long-term exposure to BTC.

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