Binance completed its $1 billion Bitcoin (BTC) purchasing plan for its Secure Asset Fund for Users (SAFU) after acquiring 4,545 BTC worth $304.58 million, bringing the reserve wallet's total holdings to 15,000 BTC valued at approximately $1.005 billion.
What Happened: SAFU Fund Reaches $1B Target
The purchases were tracked by Arkham monitoring data, which showed the SAFU wallet steadily accumulating Bitcoin during a period of broader market weakness. Rather than waiting for favorable conditions, the exchange converted roughly $1 billion in stablecoins to BTC for the fund.
The SAFU was originally created as a reserve mechanism to protect users in the event of security breaches or unexpected losses.
Binance has stated that if the fund's value falls below $800 million due to market declines or legal costs, it will replenish the balance back to $1 billion through an automatic top-up mechanism.
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Why It Matters: User Protection Signal
The timing of the accumulation — during a downturn rather than a rally — has drawn mixed reactions from market participants. Some view the stablecoin-to-BTC conversion as a vote of confidence in Bitcoin's long-term value, while critics argue the shift away from stablecoins could introduce additional price volatility to the reserve.
On-chain observers note that sustained inflows into a single reserve wallet of this size can reduce perceived exchange-side selling pressure.
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