On February 12, 2026, Binance, the world's largest cryptocurrency exchange, officially announced that its Secure Asset Fund for Users (SAFU) had successfully completed a $1 billion stablecoin conversion to Bitcoin (BTC) program.
Background and Commitment of the Plan
The SAFU fund, launched by Binance in 2018, is a dedicated insurance fund to protect user assets, with an initial size of approximately $1 billion, primarily held in stablecoins. However, at the end of January 2026, Binance publicly announced that it would gradually convert this fund into Bitcoin, promising to complete the process within 30 days of the announcement. Furthermore, if the fund's market value falls below $800 million, Binance will make up the difference.
Phased execution process
Binance previously stated that the conversion process was conducted in phases and would be regularly updated publicly through its official X account to ensure transparency. The first phase, a $100 million Bitcoin purchase, was completed in early February. Subsequent phases included a second tranche of $100 million, approximately $250 million worth of 3,600 BTC, and subsequent tranches.
This announcement details the final round of purchases, totaling 4,545 bitcoins. This brings SAFU's total holdings to 15,000 BTC, valued at approximately $1.005 billion.
CZ: Bullish on SAFU Fund's Bitcoin Reserves
In response, Binance founder CZ CZ also stated in an interaction with the crypto community today (12th) that the SAFU fund, which uses Bitcoin as a reserve, should ultimately perform quite well:
"I might be wrong, but I have a feeling that the SAFU Foundation will ultimately perform quite well. I'll save this tweet so I can come back to it later."
