Binance’s SAFU Fund has recently acquired an additional 4,225 Bitcoin, valued at approximately $299.6 million, increasing its total holdings to 10,455 Bitcoin worth $734 million. The SAFU Fund functions as an insurance-like reserve to protect user assets from potential security breaches or operational risks within the crypto industry. This move aligns with a broader trend among crypto exchanges to bolster Bitcoin reserves as a strategic asset management practice, highlighted by recent pro-crypto policies encouraging institutions to enhance their cryptocurrency holdings for sustained stability.
Binance SAFU expands Bitcoin holdings with $299.6M purchase
