Binance said it will convert the stablecoin holdings in its $1 billion Secure Asset Fund for Users (SAFU) entirely into Bitcoin over the next 30 days. The transition will be carried out gradually and accompanied by regular audits. Binance also pledged to replenish the fund if Bitcoin’s price volatility causes its value to fall below $800 million, using treasury reserves to restore it to $1 billion.
SAFU was launched in 2018 to protect users against losses from hacks or major system failures and is funded through a portion of trading fees. The fund is held separately from user assets in cold wallets and is cited as a cornerstone of Binance’s risk-management framework.
This move signals a long-term conviction that Bitcoin can function as the industry’s foundational reserve asset. Binance said future reviews could consider allocations to other core assets, including its native BNB token. SAFU was deployed in 2019 to cover losses after a security breach resulting in roughly 7,000 BTC being stolen, reimbursing affected users in full without impacting account balances, and since then the fund has remained largely untouched. As of writing, Bitcoin was trading below $83,000, down about 6% on the day with daily volume around $94 billion, and its circulating supply stood at 19,982,315 BTC of a 21 million cap for a market value near $1.65 trillion.
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