Binance Moves $1 Billion User Protection Fund into Bitcoin

Binance is reallocating its $1 billion user protection fund into Bitcoin, planning to conduct regular audits in the coming month.

In a significant move, Binance has announced its intention to transition the holdings of its Secure Asset Fund for Users, valued at $1 billion, from stablecoins to Bitcoin. This shift is set to occur over the next 30 days, signaling a bold step amid the ongoing market volatility.

The cryptocurrency exchange is committed to enhancing transparency and accountability, pledging to implement regular audits of the fund as it undergoes this conversion. This decision underscores Binance's proactive approach to user protection during uncertain market conditions.