Binance Adds 4,225 BTC to SAFU Fund, Total Holdings Reach 10,455 Bitcoins

According to blockchain data platform Arkam, on the 9th, Binance, the world's largest cryptocurrency exchange, purchased an additional 4,225 BTC worth $300 million for its user protection fund, SAFU. This acquisition increases the SAFU fund's Bitcoin holdings to 10,455 BTC, valued at over $740 million at current prices. On the 9th, Binance stated in a post, 'We continue to purchase Bitcoin (BTC) for the SAFU fund and aim to complete the fund's conversion within 30 days of the initial announcement.' This purchase also follows last week's sharp decline in Bitcoin prices.