Binance Adds $300M in Bitcoin to SAFU Fund

[cryptohog]

Binance is doubling down on Bitcoin for its emergency reserves. The exchange purchased 4,225 BTC ($300M) on Monday for its Secure Asset Fund for Users (SAFU), bringing total Bitcoin holdings in the fund to over $720M.

The move is part of Binance’s plan to fully convert the $1B user protection fund into Bitcoin, expressing confidence in BTC’s long-term potential. However, with markets volatile — Bitcoin briefly dipped below $60K last Friday — the fund’s value could fluctuate along with the price.

Binance said it will rebalance the fund back up to $1B if volatility drives it below $800M.

#Bitcoin #Binance #CryptoNews

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market volatile but binance basically saying “we believe long-term”