Binance will adjust the SAFU fund's $1 billion stablecoin reserve to Bitcoin reserves, with plans to complete the conversion within 30 days

Recently, Binance announced in an "Open Letter to the Crypto Community" that it will adjust the asset structure of the SAFU fund, gradually converting the original $1 billion stablecoin reserve into Bitcoin reserves, with plans to complete the exchange within 30 days of this statement.

Binance will conduct regular checks on the asset scale of the SAFU fund. If the market value of the SAFU fund falls below $800 million due to Bitcoin price fluctuations, Binance will supplement Bitcoin to restore the fund's scale to $1 billion. Based on Binance's judgment of Bitcoin as a core asset in the crypto ecosystem and its long-term value, Binance is willing to share the uncertainty with the industry during periods of pressure and increased cyclical fluctuations, continuously investing resources into the crypto ecosystem. This initiative is part of Binance's long-term commitment to building the industry, and it will continue to promote related work and gradually share more progress with the community.