Binance adds $300M in Bitcoin to SAFU as market sentiment remains fragile

Binance added another 4,225 Bitcoin—about $300 million—to its Secure Asset Fund for Users (SAFU), blockchain data platform Arkham shows. The purchase lifts the fund’s Bitcoin holdings to more than $720 million at current prices. On X, Binance said, “We’re continuing to acquire #Bitcoin for the SAFU fund, aiming to complete conversion of the fund within 30 days of our original announcement.” The move follows Binance’s Jan.

30 plan to shift $1 billion of its user protection fund into Bitcoin; the exchange said it would rebalance the fund back to $1 billion if market swings drove its value below $800 million. Holding Bitcoin exposes the emergency reserve to price volatility that could reduce the fund’s total value.

The purchase comes amid a broader market correction that pushed Bitcoin down to $59,930 on Friday, a level TradingView associates with October 2024 before the re-election of US President Donald Trump.

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