Binance, the global crypto exchange serving hundreds of millions of users, added 4,225 Bitcoin, worth around $300 million, to its emergency reserve fund today, bringing total holdings to 10,455 BTC valued at approximately $734 million.
The Secure Asset Fund for Users (SAFU), an insurance-like reserve designed to protect customer deposits from security breaches or operational failures, has been steadily accumulating the digital asset as part of a treasury shift.
Binance announced on January 30 its intention to convert $1 billion in stablecoin reserves into Bitcoin in 30 days. The exchange has completed about 73 % of its conversion target.
The shift toward Bitcoin-denominated reserves reflects a growing trend among major crypto platforms to hold the asset as a hedge against inflation and stablecoin-related uncertainties.
The leading digital asset is now trading above 68,500, down 3% in the last 24 hours, per CoinGecko.
Source: https://cryptobriefing.com/binance-safu-bitcoin-holdings-expansion-300-million-purchase/
