has officially completed the conversion of its Secure Asset Fund for Users into Bitcoin, finalizing its transition to within 30 days of the initial announcement. This move marks a significant strategic shift in how the world’s largest cryptocurrency exchange manages its emergency reserve assets.
The final tranche of the conversion involved the purchase of 4,545 bringing the fund’s total Bitcoin holdings to m. At a Bitcoin price of approximately $67,000 per coin, the fund is now valued at around $1.005 billion, fulfilling Binance’s pledge to maintain a reserve near the billion level.
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