Binance Converts $250M Stablecoins to Bitcoin for SAFU as CZ Calls Timing "Perfect"

Binance has converted about $250 million worth of stablecoins into 3,600 BTC for its SAFU user protection fund, bringing the wallet's holdings to 6,230 BTC as of Saturday, Feb. 7. Changpeng Zhao says the ongoing plan to shift all SAFU stablecoin reserves into Bitcoin within 30 days has so far come at a "perfect" time amid the asset's recent price downturn.