Binance to Adjust SAFU Fund's $1 Billion Stablecoin Reserve to Bitcoin Reserve, Plans to Complete Conversion Within 30 Days

Odaily News Recently, Binance announced in an "Open Letter to the Crypto Community" that it will adjust the asset structure of the SAFU fund, gradually converting the original $1 billion stablecoin reserve into a Bitcoin reserve, with plans to complete the exchange within 30 days of the announcement. Binance will conduct regular reviews of the SAFU fund's asset size. If the fund's market value falls below $800 million due to Bitcoin price fluctuations, Binance will supplement Bitcoin to restore the fund size to $1 billion.

Based on Binance's assessment of Bitcoin as a core asset in the crypto ecosystem and its long-term value, Binance is willing to share uncertainties with the industry during periods of industry pressure and increased cyclical volatility, and continue to invest resources into the crypto ecosystem. This move is part of Binance's long-term commitment to building the industry, and related efforts will continue to be promoted, with more progress gradually shared with the community.