Binance moved 1.315 Bitcoin to the SAFU Fund.

Binance Strengthens User Protection Fund

Binance has transferred approximately 100 million dollars worth of Bitcoin from its hot wallet to the Secure Asset Fund for Users (SAFU). This move indicates a restructuring of the user protection reserve to be more closely aligned with Bitcoin.

Blockchain data shows that this transfer is an intrinsic reclassification of existing Bitcoin assets rather than a market purchase or stablecoin conversion. This action, aimed at safeguarding users' assets, is seen as part of Binance's effort to enhance its security measures.

The close connection of the SAFU fund to Bitcoin increases the risk of price volatility. Therefore, the promise of replenishing this fund when its value drops below 800 million dollars becomes even more significant.