Binance announced it will convert its $1 billion SAFU fund from stablecoins to Bitcoin reserves within 30 days, responding to mounting community criticism that intensified after prominent Wall Street investor Cathie Wood publicly attributed recent market weakness to a Binance-related deleveraging event. The exchange pledged to maintain the fund’s value at $1 billion through regular rebalancing, replenishing it with additional Bitcoin if price fluctuations push the fund below $800 million. The move comes ...

Key Takeaways Binance will convert its $1 billion SAFU emergency fund from stablecoins into Bitcoin over the next 30 days. The shift comes as Binance faces fresh backlash over Binance Alpha listings that surged briefly before collapsing. A BTC-backed SAFU fund may appeal to Bitcoin supporters, but it also adds volatility risk to the user protection pool. Binance is making a major change to its Secure Asset Fund for Users (SAFU), its long-running emergency reserve designed to protect customers in c ...