Binance to Convert Approximately 156 Billion Yen in SAFU Funds to Bitcoin

On the 30th, Binance, the world's largest cryptocurrency exchange, announced that it will convert its $1 billion (approximately 156 billion yen) in stablecoin reserves from the 'SAFU (Secure Asset Fund for Users)' to Bitcoin within the next 30 days.

Established in July 2018, SAFU is an emergency insurance fund designed to protect user assets in extreme situations such as security breaches at the exchange. Binance allocates a portion of its transaction fees to this fund, and by 2025, it has implemented approximately $48 million worth of user asset protection.

In a public letter, Binance stated that 'the market...