Binance moves 1,315 bitcoin into user protection fund as it prepares to buy $1 billion BTC

Binance transferred roughly $100 million worth of bitcoin (BTC) from a hot wallets into its Secure Asset Fund for Users (SAFU), marking an early on-chain step in the largest crypto exchange's plan to reframe its user protection reserve around the largest cryptocurrency. Blockchain data identified by Arkham shows about 1,315 BTC moved in a single transaction from a Binance-labeled wallet to a known SAFU fund address early Monday. The transfer was direct and showed no signs of interaction with external wall ...