Overview
- Binance says the conversion will be gradual across 30 days and accompanied by regular audits of the user protection fund.
- If bitcoin price moves push the fund’s value below $800 million, Binance pledges to top it up to restore the balance to $1 billion.
- The company cites bitcoin as crypto’s core reserve asset, moving SAFU from largely stablecoin holdings kept in separate cold wallets.
- The decision lands during heightened scrutiny of Binance’s market role and token listings, with supporters and critics split on added volatility risk.
- Binance highlighted 2025 safeguards and transparency metrics, including roughly $163 billion in proof‑of‑reserves, $48 million in recovered deposits, an estimated $6.69 billion in scam losses prevented, and $131 million in illicit funds seized with law enforcement.