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Binance SAFU Fund Completes $250 Million Bitcoin Purchase

Binance SAFU Fund Completes $250 Million Bitcoin Purchase

Binance’s Secure Asset Fund for Users (SAFU) has purchased 3,600 BTC, bringing the total to over 6,200 BTC, with full conversion expected within 30 days.

BTC

Summary

Binance has completed a $250 million purchase of 3,600 BTC for its Secure Asset Fund for Users (SAFU), bringing its total BTC holdings to 6,230. The purchase was made using stablecoins, and Binance plans to complete the fund's full conversion within 30 days of its January 30 announcement. This action is part of Binance’s strategy to further bolster user protection and reserve security.

Terms & Concepts
  • SAFU (Secure Asset Fund for Users): An insurance fund established by Binance to protect user assets during extreme situations, maintained with crypto holdings.
  • Bitcoin (BTC): The world’s first decentralized cryptocurrency, used as a store of value and medium of exchange on its blockchain.