Binance Allocates 1,315 Bitcoin to User Protection Fund Amid BTC Purchase

Binance transfers 1,315 bitcoins to its user protection fund, gearing up for a massive $1 billion BTC acquisition following a recent announcement.

In a significant move, Binance has transferred 1,315 bitcoins into its Secure Asset Fund for Users (SAFU), as the exchange prepares for a substantial $1 billion Bitcoin purchase.

This $100 million transfer is part of Binance's strategy announced on January 30, wherein the exchange stated its intention to gradually reallocate its SAFU assets into Bitcoin over the course of the next month.