Binance Converts $1B SAFU Fund to Bitcoin; Coinbase CEO Sells Over 1.5M Shares

Binance completed the conversion of its $1 billion SAFU fund reserves into bitcoin, while Coinbase's stock fell further on Wednesday after CEO Brian Armstrong sold over 1.5 million shares in the past nine months, The Block reports. The Thai SEC said it will support integrating digital assets into the local derivatives market, the U.K. selected HSBC as platform provider for a tokenized government bond pilot, and the American Bankers Association urged the OCC to slow approvals of national bank charters for digital asset firms, citing unresolved receivership risks. Israeli prosecutors filed an indictment against an Israel Defense Forces reservist and a civilian accused of using classified military information to place wagers on Polymarket, while Trump-linked World Liberty Financial said it plans to launch a foreign exchange and remittance platform called World Swap.