Just now! Binance announced that the SAFU user protection fund (approximately $1 billion stablecoin) will be fully converted to BTC within 30 days.
The first batch of approximately $100 million in BTC has been transferred to the fund address, with an additional $900 million to be gradually purchased.
If the BTC price fluctuation causes the fund value to fall below $800 million, Binance promises to cover the difference from its own funds back to $1 billion.
This is not only to protect users but also to publicly support the long-term value of $BTC!