Binance has finalized the full transition of its SAFU Fund reserves into Bitcoin, completing the purchase of an additional 4,545 BTC in the final tranche. With this transaction, the exchange concluded its previously announced plan to convert $1 billion worth of stablecoin reserves into Bitcoin within 30 days.

Following the latest purchase, the SAFU fund now holds a total of 15,000 BTC. At the time of completion, and based on a Bitcoin price of $67,000, the fund’s value stood at approximately $1.005 billion. Binance stated that moving the fund entirely into Bitcoin reflects its confidence in BTC as a long-term reserve asset.

CZ Responds to FUD as Community Reacts

The update drew significant attention across the crypto community, particularly on X, where users discussed the implications of Binance consolidating its emergency reserve into Bitcoin. Some commentators praised the move, noting that it comes amid recurring waves of fear, uncertainty, and doubt surrounding the exchange.

Binance cofounder Changpeng “CZ” Zhao responded publicly, expressing optimism about the long-term outlook of the SAFU fund. He suggested that the strategy could prove beneficial over time, adding that the results could be revisited in the future.

SAFU, which stands for Secure Asset Fund for Users, was launched by Binance as a protection mechanism designed to cover potential losses in extreme scenarios such as security breaches. In January, Binance revealed its intention to convert $1 billion in dollar-pegged tokens into Bitcoin for the fund, while committing to replenish the reserve if its value drops below $800 million due to market volatility.

While positioning the fund entirely in Bitcoin underscores Binance’s conviction in the asset, the strategy also introduces exposure to BTC price swings. A Bitcoin-backed reserve can fluctuate significantly alongside broader market conditions, making the company’s replenishment pledge a key safeguard during downturns.

Additional Binance Developments

Beyond the SAFU update, Binance recently announced a partnership initiative with Franklin Templeton aimed at launching an institutional collateral program. The collaboration will allow tokenized money market fund shares issued through Franklin Templeton’s Benji Technology Platform to be used as collateral on Binance. The move marks the first initiative under the partnership unveiled last year.

The exchange also confirmed new listing activity. Binance will list Espresso (ESP) and open spot trading pairs against USDT, USDC, and TRY on February 12, with withdrawals scheduled to begin on February 13 at 13:00 UTC.

At the same time, Binance announced the removal of multiple trading pairs, including AT/BNB, AVAX/BNB, BANANA/BTC, COTI/BTC, FF/BNB, HIVE/BTC, IO/BNB, LRC/BTC, MANA/BTC, SAGA/BNB, W/FDUSD, XPL/BNB, and ZK/BTC. Trading for these pairs will cease on February 13 at 08:00 UTC.

The series of updates highlights Binance’s continued operational adjustments and strategic positioning as it navigates a volatile crypto market environment.

Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to Disclaimer.