Overview
- Binance bought 4,225 BTC using about $300 million in stablecoins on Feb. 9, lifting SAFU holdings to 10,455 BTC valued near $734 million.
- The exchange is about 73% through its 30‑day plan to convert $1 billion of SAFU stablecoins into Bitcoin, with further tranches expected.
- Binance published the SAFU Bitcoin address and a TXID for public verification as on‑chain trackers corroborated each transfer.
- Earlier phases included two ~1,315 BTC moves and an additional ~3,600 BTC across Feb. 6–7, building to the latest allocation.
- Market reaction has been muted with Bitcoin trading near the high‑$60,000s, while the shift trades stablecoin counterparty risk for Bitcoin volatility under an $800 million rebalance safeguard.