Binance is converting its $1 billion Secure Asset Fund for Users (SAFU) from stablecoins to Bitcoin over the next 30 days. This move reflects Binance's confidence in Bitcoin's long-term value and aims to align its reserves with the leading cryptocurrency. The fund will be monitored continuously, and if Bitcoin's price fluctuations cause the SAFU balance to fall below $800 million, Binance will replenish it to $1 billion.🌟🌟🌟
This decision comes amid market volatility, with Bitcoin's price dropping to $82,000, its lowest level since November 2024. Analysts view this move as a strong institutional endorsement of Bitcoin, reinforcing its role as a digital store of value.🌹
Binance's proof-of-reserves report shows $162.8 billion in user assets across 45 crypto assets, underscoring its liquidity position🌹
Would you like to know more about Binance's SAFU fund or the implications of this move for the crypto market?👋👋
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