Binance to shift $1 billion user protection fund into bitcoin amid market rout

Share This Post

Top cryptocurrency exchange Binance announced said Friday that it shall switch the stablecoin in its $1 billion emergency user protection fund to bitcoin over the next 30 days.

The move targets the Secure asset Fund for Users (SAFU), which is a security fund created to protect users from losses due to unforeseen events such as hacks. The exchange plans to gradually convert the stablecoin holdings within 30 days, committing to regular audits.

It added that if bitcoin’s price swings drop the fund’s value below $800 million, the exchange will top it back up to $1 billion.

“This initiative is part of Binance’s long-term industry-building efforts, and we will continue to advance related work, gradually sharing more progress with the community,” the translated version of the exchange’s post on X, said.

As of 2025, the exchange’s proof-of-reserves report showed users holding roughly $163 billion in crypto tokens on the platform.

Stablecoins are digital tokens with values pegged to an external reference such as the U.S. dollar. Bitcoin is the world’s leading cryptocurrency with a market value of over $1.6 trillion.

Related Posts

IREN shares fall 8% as costly AI transition weighs on earnings

Weakening profitability overshadowed a major milestone in IREN’s transformation...

Kraken users briefly locked out after a flood of sanctioned crypto transactions

The activity, appearing to spread sanctioned funds to trigger...

Visa doubles down on South Korea with Upbit operator Dunamu on stablecoin payments

Following a deal with Shinhan Financial, the global payments...

From Hawala to Swift: Inside the 1,000-year battle to move money safely

Finance has spent centuries decoupling wealth from physical transport,...

Michael Saylor hints at first bitcoin purchase in two months as bitcoin nears $79,000

Bitcoin rebounds from Friday’s low as Strategy’s valuation expands...

Bullish backs USD.AI with $100 million in financing to drive GPU-backed loans

Cryptocurrency platform Bullish is extending a $100 million debt...