Binance said it plans to convert the Secure Asset Fund for Users Fund’s $1 billion stablecoin reserves into Bitcoin over the next 30 days.
Binance Plans Bitcoin Conversion For SAFU
Binance communicated the SAFU decision in an open letter to the crypto community. The exchange said it considers Bitcoin a core asset within the crypto ecosystem and is prepared to manage market uncertainty while supporting its long-term role.
- South Korea Proposes Crypto Exchange Ownership Cap; Upbit, Coinone May Reduce Stakes
- Following Bitcoin and Ether, Grayscale Files with SEC for Spot BNB ETF on Nasdaq
- FCA Outlines Final Crypto Framework, Seeks Feedback on Governance and Consumer Duty
The SAFU Fund was established in 2018 to protect users during extreme events. It has mainly been held in stablecoins to limit exposure to price volatility. The planned conversion represents a shift away from dollar-linked assets toward direct exposure to Bitcoin.
SAFU Fund Replenished If Value Drops
Binance said it will monitor both the SAFU Fund and Bitcoin’s price. If market volatility reduces the fund’s value below $800 million, the exchange said it will add Bitcoin to restore the fund to $1 billion.
In the letter, Binance said, “This initiative is part of Binance’s long-term commitment to the industry, and we will continue to advance related work and gradually share more progress with the community.”
The exchange also referred to wider pressure on crypto platforms to improve risk management , governance, and operational standards.
Binance said that by late 2025 it had verified about $162.8 billion in user assets through its Proof of Reserves system, covering 45 asset categories.
Crypto Risk Scrutiny Follows Trust Wallet
The SAFU decision comes amid broader scrutiny of risk management across the crypto sector. About a month earlier, Trust Wallet, a crypto wallet platform linked to Binance founder Changpeng Zhao, reported a security incident that led to losses of at least $7 million in digital assets.