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2d ago

Binance Kicks Off $1 Billion SAFU Shift to Bitcoin With $100 Million Internal Move

The move shifts a previously stablecoin-based safety fund onto bitcoin with a commitment to top it up below $800 million.

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Binance SAFU Fund buys 1,315 Bitcoin worth over $100 million
First batch complete: binance starts executing a $1b bitcoin buying plan

Overview

  • On-chain data from Arkham shows about 1,315 BTC (roughly $100 million) moved from a Binance hot wallet to a known SAFU address in a single transaction.
  • Binance confirmed on X that this was the first batch of its SAFU conversion and published the SAFU bitcoin address and transaction ID.
  • The initial transfer appears to be an internal reclassification of existing bitcoin rather than a stablecoin-to-BTC purchase or external market trade.
  • The conversion is part of Binance’s plan to reallocate $1 billion of SAFU assets into bitcoin over 30 days, replacing a reserve that previously relied on stablecoins.
  • Holding SAFU in bitcoin introduces price volatility, and Binance has pledged to restore the fund if its value falls below $800 million, with market watchers monitoring for any future spot purchases.