The company stated:
FAQ ⏰ What did Binance convert in the SAFU fund? Binance converted $100 million in stablecoins from the SAFU fund into bitcoin as the first batch of a larger plan. How much bitcoin was moved in the SAFU transaction? The on-chain transaction transferred about 1,350 bitcoin valued near $107 million at the time. Why is Binance converting SAFU funds into bitcoin? Binance said the move reflects its view of bitcoin as the core long-term asset in the crypto ecosystem. How will Binance manage SAFU after the conversion? Binance plans to monitor the fund’s value and rebalance it back to $1 billion if it drops below $800 million.First Batch Complete: Binance Starts Executing a $1B Bitcoin Buying Plan
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