Binance Converts $300M More Stablecoins to Bitcoin for SAFU Fund
Binance has purchased an additional 4,225 BTC worth $300M in stablecoins for its SAFU (Secure Asset Fund for Users) emergency fund. The fund now holds 10,455 BTC, viewable at the public address [1BAuq7Vho2CEkVkUxbfU26LhwQjbCmWQkD](https://www.blockchain.com/en/explorer/transactions/btc/89302aff70a154c4d3939fa9c44391060e8df0b11746026755c31a7e3d1de624).
**Key milestones:**
- Feb 2: First batch - $100M converted
- Feb 6: Second batch - $250M converted (6,230 BTC total)
- Feb 9: Third batch - $300M converted (10,455 BTC total)
Binance aims to complete the full conversion of approximately $1B in stablecoin reserves to Bitcoin within 30 days of the original January 30 announcement. The exchange stated it will rebalance the fund if Bitcoin price movements cause it to fall below $800M, replenishing it back to $1B.
The move represents Binance's commitment to Bitcoin as the foundational asset and long-term store of value in crypto. Updates will continue as the conversion progresses.