Binance has completed the final stage of its $1 billion SAFU Fund conversion, fully transitioning the exchange’s emergency insurance reserve from stablecoins into Bitcoin.

In a post on X, Binance said it purchased the last tranche of 4,545 Bitcoin (BTC), finalizing the transition within 30 days of the initial announcement.

The SAFU Fund now holds 15,000 BTC, valued at roughly $1.005 billion at the time of completion, based on a Bitcoin price of $67,000.

The exchange also disclosed the SAFU Fund’s Bitcoin address and transaction details. Binance said the move reflects its belief in Bitcoin as a long-term reserve asset for protecting users during extreme market events.

Market context and trader activity

The SAFU conversion was first announced earlier this year, signaling a notable shift away from stablecoin-based reserves. Historically, the fund was designed to prioritize capital preservation and immediate liquidity in the event of security breaches or system failures.

The transition unfolded during a period of heightened market volatility, with Bitcoin experiencing sharp dips followed by renewed accumulation.

Previous reports indicated that Binance traders increased dip-buying activity during the conversion window, prompting discussion around the timing of the SAFU purchases.

Binance has said SAFU transactions are executed gradually to minimize market impact and remain fully segregated from operational funds.

With the process now complete, the exchange confirmed that the SAFU Fund is entirely held in Bitcoin, marking a strategic pivot in how its $1 billion user protection reserve is managed.