The post Binance Begins $1B SAFU BTC Conversion With First $100M Buy appeared on BitcoinEthereumNews.com. Binance kicked off its $1 billion SAFU conversion intoThe post Binance Begins $1B SAFU BTC Conversion With First $100M Buy appeared on BitcoinEthereumNews.com. Binance kicked off its $1 billion SAFU conversion into

Binance Begins $1B SAFU BTC Conversion With First $100M Buy

2 min read

Binance kicked off its $1 billion SAFU conversion into Bitcoin with a $100 million purchase, shifting its user protection fund out of stablecoins and into BTC.

Crypto exchange Binance bought its first 1,315 Bitcoin as part of its conversion plan for the Secure Asset Fund for Users (SAFU).

The Bitcoin (BTC), worth $101 million, was bought for an average price of $77,409.89 per coin, according to data from Blockchain.com. Binance said it expects to shift the rest of SAFU’s $1B from stablecoins to Bitcoin within the next 27 days.

A Binance spokesperson told Cointelegraph on Friday that the SAFU fund will continue to be used as a backstop for users in the event of extreme incidents or losses.

Binance converts $100 million to BTC. Source: Blockchain.com

Binance shifts SAFU reserves from USDC to BTC

The SAFU fund, launched in 2018, is a dedicated user protection pool funded by Binance trading fees. In 2024, Binance shifted the stablecoin portion of SAFU from BUSD into USDC. The exchange positioned the move as a way to keep the emergency fund liquid, reliable and tied to the US dollar.

​The conversion to BTC moves SAFU out of stablecoins altogether, meaning the emergency fund will be held entirely in Bitcoin rather than stablecoins.

Binance still has about $900 million in buying power, earmarked for BTC allocations.

The move comes as markets reel from a sharp crypto sell-off, which saw the price of BTC fall briefly below $75,000.

Bitcoin price chart. Source: CoinMarketCap

It also follows fresh buy-the-dip signals from Michael Saylor’s Strategy, which hinted that it would add more Bitcoin after the weekend crash pushed BTC below its cost basis. 

Big questions: Would Bitcoin survive a 10-year power outage?

Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently. Read our Editorial Policy https://cointelegraph.com/editorial-policy

Source: https://cointelegraph.com/news/binance-buys-dip-first-100m-bitcoin-safu?utm_source=rss_feed&utm_medium=feed&utm_campaign=rss_partner_inbound

Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact [email protected] for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.

You May Also Like

XRP Enters ‘Washout Zone,’ Then Targets $30, Crypto Analyst Says

XRP Enters ‘Washout Zone,’ Then Targets $30, Crypto Analyst Says

XRP has entered what Korean Certified Elliott Wave Analyst XForceGlobal (@XForceGlobal) calls a “washout” phase inside a broader Elliott Wave corrective structure
Share
NewsBTC2026/02/05 08:00
Republicans are 'very concerned about Texas' turning blue: GOP senator

Republicans are 'very concerned about Texas' turning blue: GOP senator

While Republicans in the U.S. House of Representatives have a razor-thin with just a four-seat advantage, their six-seat advantage in the U.S. Senate is seen as
Share
Alternet2026/02/05 08:38
Headwind Helps Best Wallet Token

Headwind Helps Best Wallet Token

The post Headwind Helps Best Wallet Token appeared on BitcoinEthereumNews.com. Google has announced the launch of a new open-source protocol called Agent Payments Protocol (AP2) in partnership with Coinbase, the Ethereum Foundation, and 60 other organizations. This allows AI agents to make payments on behalf of users using various methods such as real-time bank transfers, credit and debit cards, and, most importantly, stablecoins. Let’s explore in detail what this could mean for the broader cryptocurrency markets, and also highlight a presale crypto (Best Wallet Token) that could explode as a result of this development. Google’s Push for Stablecoins Agent Payments Protocol (AP2) uses digital contracts known as ‘Intent Mandates’ and ‘Verifiable Credentials’ to ensure that AI agents undertake only those payments authorized by the user. Mandates, by the way, are cryptographically signed, tamper-proof digital contracts that act as verifiable proof of a user’s instruction. For example, let’s say you instruct an AI agent to never spend more than $200 in a single transaction. This instruction is written into an Intent Mandate, which serves as a digital contract. Now, whenever the AI agent tries to make a payment, it must present this mandate as proof of authorization, which will then be verified via the AP2 protocol. Alongside this, Google has also launched the A2A x402 extension to accelerate support for the Web3 ecosystem. This production-ready solution enables agent-based crypto payments and will help reshape the growth of cryptocurrency integration within the AP2 protocol. Google’s inclusion of stablecoins in AP2 is a massive vote of confidence in dollar-pegged cryptocurrencies and a huge step toward making them a mainstream payment option. This widens stablecoin usage beyond trading and speculation, positioning them at the center of the consumption economy. The recent enactment of the GENIUS Act in the U.S. gives stablecoins more structure and legal support. Imagine paying for things like data crawls, per-task…
Share
BitcoinEthereumNews2025/09/18 01:27