Binance to Shift $1 Billion SAFU Fund From Stablecoins to Bitcoin Reserves Within 30 Days
Binance has announced plans to convert its $1 billion Secure Asset Fund for Users (SAFU) from stablecoins into Bitcoin over the next 30 days, after community criticism intensified following Cathie Wood's comments about an October 10 deleveraging event. The exchange says it will regularly rebalance the fund, adding Bitcoin if needed to keep its value at $1 billion, while broader concerns persist over the October crash, token listings, and platform transparency.