Binance completes $1B Bitcoin conversion for SAFU emergency fund.. What does that mean ?
Binance completed the $1 billion Bitcoin conversion for its emergency fund, committing to holding Bitcoin as its core reserve asset.
Binance purchased another $304 million worth of Bitcoin BTCUSD on Thursday, completing the conversion of $1 billion in Bitcoin for its Secure Asset Fund for Users (SAFU) wallet, according to Arkham data.
The fund now holds 15,000 Bitcoin, worth over $1 billion, acquired at an average aggregate cost basis of $67,000 per coin. $BNB $BTC