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Binance to Shift $1 Billion SAFU Fund From Stablecoins to Bitcoin Reserves Within 30 Days
Binance has announced plans to convert its $1 billion Secure Asset Fund for Users (SAFU) from stablecoins into Bitcoin over the next 30 days, after community criticism intensified following Cathie Wood's comments about an October 10 deleveraging event. The exchange says it will regularly rebalance the fund, adding Bitcoin if needed to keep its value at $1 billion, while broader concerns persist over the October crash, token listings, and platform transparency.
BTC
BTC-5.26%
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Bitcoin Drops To Just Above $82,000 As $1.70 Billion In Positions Are Liquidated
Bitcoin fell sharply this week in early US trading, sliding to slightly above $82,000 and triggering a wave of forced position closures. Data from Coinglass show about 270,000 accounts were liquidated across exchanges in the past day, with nearly $1.70 billion in contracts wiped out, mostly from traders positioned for further price gains. The selloff unfolded amid geopolitical tension, weaker tech earnings and renewed risk aversion across wider markets.
BTC
BTC-5.26%
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