maartunn
Binance moves first bitcoin batch (1,315 BTC) into the SAFU fund ๐
Binance has transferred 1,315 BTC (~$100M) into its Secure Asset Fund for Users (SAFU). This is the first on-chain transaction in its plan to shift the $1B user-protection fund toward bitcoin. On-chain data shows the BTC moved directly from a Binance-controlled wallet to a known SAFU address, indicating an internal treasury reclassification. This aligns with Binanceโs late-January announcement that the transition would occur gradually over 30 days. SAFU is a security fund established to protect users against losses resulting from unforeseen events such as hacks. Last week, Binance stated that it would convert $1 billion worth of dollar-pegged tokens into Bitcoin for the fund over the next 30 days, and pledged to replenish the fund if its value falls below $800 million due to market volatility.