USDBinance Completes $1B SAFU Conversion Into 15,000 BTC, Discloses Wallets and Rebalancing Threshold
Exchange Finalizes Accelerated Bitcoin Reserve Shift as Market Trades in Mid-$60,000s Range
TL;DR
- Binance completed a $1 billion conversion of its SAFU fund into 15,000 BTC on February 12, 2026.
- Purchases were executed in five tranches, including a final 4,545 BTC buy worth about $305 million.
- Binance said, “With SAFU Fund now fully in Bitcoin, we reinforce our belief in BTC as the premier long-term reserve asset.”
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Binance said on February 12, 2026 that it has completed the full conversion of its Secure Asset Fund for Users into Bitcoin, finalizing a previously announced $1 billion restructuring of its emergency reserve. The exchange disclosed that the SAFU fund now holds 15,000 BTC, with the allocation valued at roughly $1.00–$1.005 billion based on Bitcoin trading in the mid-$60,000s range near $67,000 per coin, according to COIN360 data at the time of completion.
The conversion plan was first outlined on January 30, 2026 with a target window of 30 days, though the company completed the build-up in less than two weeks. Binance said the restructuring involved multiple staggered transactions and published wallet addresses and transaction hashes tied to the final tranche. The last purchase consisted of 4,545 BTC acquired for approximately $305 million, bringing total SAFU holdings to 15,000 BTC.
Transaction breakdowns show five tranches were executed during the process. Binance acquired 1,315 BTC for about $100 million at an average price of roughly $76,000, followed by another 1,315 BTC for approximately $100 million at a similar ~$76,000 level. The exchange then purchased 3,600 BTC for around $250 million at about $69,400 per coin, followed by 4,225 BTC for roughly $300 million at about $71,000, and finally 4,545 BTC for about $300 million at around $66,000. Binance disclosed an aggregate average acquisition range between $67,000 and $70,000 per BTC.
“With SAFU Fund now fully in Bitcoin, we reinforce our belief in BTC as the premier long-term reserve asset,” Binance said in a statement accompanying the announcement. The exchange also stated that if the value of the fund declines below $800 million due to Bitcoin volatility, it will replenish the reserve back to the $1 billion level, likely through additional Bitcoin purchases.
SAFU was established in 2018 as an emergency insurance reserve designed to protect users against security incidents and operational disruptions. The fund was previously held in a mix of assets before being fully converted into Bitcoin. Binance said the transactions were segregated from operational funds and executed gradually to reduce market impact.
Market conditions during the conversion period included Bitcoin briefly trading below $60,000, while sentiment indicators registered extreme fear. Data cited during the same window showed “smart money traders” held net short positions totaling about $105 million across Bitcoin and other large tokens.
After completion, the 15,000 BTC holding placed Binance’s SAFU among the top 10 largest Bitcoin treasuries globally, exceeding Coinbase’s reported 14,548 BTC and surpassing estimates of North Korea’s 13,562 BTC and Bhutan’s 10,769 BTC.
This article has been refined and enhanced by ChatGPT.
