Binance SAFU buys $100M in BTC

A wallet belonging to Binance's Secure Asset Fund for Users (SAFU) has purchased 1,315 BTC, worth $100.7 million, Lookonchain reported. Binance previously announced it would adjust the asset structure of its SAFU fund by gradually converting its existing $1 billion stablecoin reserve into BTC. However, on-chain analyst ai_9684xtpa noted that the address that received the BTC is not the same one (starting with 0x420ef) that holds the $1 billion in stablecoins, adding that further details would require an official announcement from Binance.