Binance plans to convert its Secure Asset Fund for Users (SAFU), valued at approximately $1 billion, into Bitcoin over 30 days, according to an open letter fro Binance plans to convert its Secure Asset Fund for Users (SAFU), valued at approximately $1 billion, into Bitcoin over 30 days, according to an open letter fro
Binance Moves $1B SAFU Fund Into Bitcoin Amid Weakening Dollar
Binance plans to convert its Secure Asset Fund for Users (SAFU), valued at approximately $1 billion, into Bitcoin over 30 days, according to an open letter from the exchange. The move, coinciding with the depreciating U.S. dollar, marks a shift away from stablecoin-based reserves toward direct exposure to BTC. SAFU was established in 2018 as an emergency insurance fund designed to compensate users in the event of security breaches or other critical incidents. The fund is financed through a portion of Binance’s trading fees and has been used in the past to cover losses following major disruptions. Shift From
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