Binanceâs SAFU Fund Turns $1B Into Bitcoin đ
Binanceâs SAFU user protection fund has converted its $1 billion stablecoin reserve into 15,000 BTC, with an average entry near $66,667.
At around $84,750 per BTC, the position is worth approximately $1.27 billion, representing an unrealized gain of about $270 million.
SAFU was launched in 2018 to protect users. Binance completed the BTC conversion over 30 days, with the final purchase adding 4,545 BTC to the fund.
The profit is currently only unrealized. Binance has stated that if SAFUâs value falls below $800 million, it will rebalance the fund back toward $1 billion.
The key takeaway: Binance is now holding 15,000 BTC as part of its user protection reserve, directly tying SAFUâs value to Bitcoinâs market performance. đđ„
$BTC $ETH $SOL
#GreekPoliceBustCryptoScamRingArrest17
#SECHaltsCryptoETFReviewsAmidFundingLapse
Binanceâs SAFU user protection fund has converted its $1 billion stablecoin reserve into 15,000 BTC, with an average entry near $66,667.
At around $84,750 per BTC, the position is worth approximately $1.27 billion, representing an unrealized gain of about $270 million.
SAFU was launched in 2018 to protect users. Binance completed the BTC conversion over 30 days, with the final purchase adding 4,545 BTC to the fund.
The profit is currently only unrealized. Binance has stated that if SAFUâs value falls below $800 million, it will rebalance the fund back toward $1 billion.
The key takeaway: Binance is now holding 15,000 BTC as part of its user protection reserve, directly tying SAFUâs value to Bitcoinâs market performance. đđ„
$BTC $ETH $SOL
#GreekPoliceBustCryptoScamRingArrest17
#SECHaltsCryptoETFReviewsAmidFundingLapse
