Binance Completes Shift of $1 Billion SAFU Fund to Bitcoin

Binance is fully converting the $1 billion SAFU fund into Bitcoin and buying 4,545 BTC to complete the reserve overhaul.

The exchange’s decision to shift its emergency insurance reserve to BTC instead of a dollar-pegged asset has reversed its position as of April 2024, placing approximately $1 billion in user protection funds directly into the cryptocurrency with the largest market cap.

Conversion completed within a 30 day period

According to on-chain data, Binance carried out the rebalancing in several separate purchases between February 2 and 12 checked from Lookonchain. The latest transaction of 4,545 BTC, worth $304.5 million, brought the company’s total value to just over $1 billion, based on Bitcoin’s current price around $67,000.

The exchange first announced the conversion plan on Jan. 30, saying the process would be completed within 30 days. However, the completion came almost halfway through that window, with the SAFU wallet address, which Binance made public, now holding 15,000 BTC.

The Secure Asset Fund for Users was established in 2018 as an insurance pool to cover user losses from extreme events such as exchange hacks. In April 2024, Binance fully converted the fund to USDC, with the move described at the time as a stability measure. The completion now marks a complete reversal of that approach.

Binance said it views Bitcoin as “the premier long-term reserve asset” and has framed the decision as a way to align SAFU with that position. The company also stated that it will rebalance the fund if its value falls below $800 million due to price declines.

Market context

When the move was announced, it received immediate comment from market observers, with crypto commentator Garrett describing the conversion on X as “a direct capital injection into the market” and “what responsible builders do.”

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The announcement came as data from CryptoQuant showed that Binance accounted for approximately 41% of the spot trading volume of the top 10 exchanges in 2025. The exchange also has similarly high holdings of Bitcoin perpetual futures and stablecoin reserves.

Meanwhile, the OG cryptocurrency was trading around the $67,300 level at the time of writing, up slightly around 0.5% in the past 24 hours, but in the red for seven days after a nearly 5% dip according to CoinGecko data.

The situation is the same over longer time frames, with BTC losing just under 24% of its value in the last fourteen days and almost 30% in the last month, leaving the price more than 46% below its all-time high above $126,000 of October 2025.