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BSCN· 2026-02-02 10:11
🚨BREAKING: BINANCE COMPLETES FIRST SAFU FUND CONVERSION TO $BTC@Binance confirms completion of the initial batch converting $100M stablecoins to $BTC for SAFU emergency fund.The Exchange is targeting full fund conversion within 30 days of the original announcement. https://t.co/uTNUobQYv5BSCN (@BSCNews):🚨JUST IN: BINANCE TO CONVERT SAFU FUND INTO BITCOIN@Binance says it will convert roughly $1B of SAFU fund stablecoins into $BTC.The conversion will take place gradually over the next 30 days.The exchange say ...
X @Binance
Binance· 2026-02-02 10:02
#Binance SAFU Fund Asset Conversion progress update.Binance has completed the first batch of Bitcoin conversion for the SAFU Fund, amounting to 100M USD stablecoins.Our SAFU BTC address:1BAuq7Vho2CEkVkUxbfU26LhwQjbCmWQkDTXID: https://t.co/CbhWA47rAFWe’re continuing to acquire Bitcoin for the SAFU fund, aiming to complete conversion of the fund within 30 days of our original announcement.We’ll share updates with the community as they become available. ...
Web3 CEOs Clash Over Who Caused Crypto’s 10/10 Black Friday Crash
Yahoo Finance· 2026-02-02 09:55
Crypto 10/10 Crash — Source: CoinGape The October 10, 2025 crypto market crash, which triggered an estimated $19–28 billion in forced deleveraging, is yet again reigniting debate among Web3’s most influential executives. On Oct 1o, crypto experienced a shock that liquidated roughly $19 billion of leveraged positions within hours. During the peak of the event, Binance’s USDe on-venue price briefly dislocated. It reported lows were as near as $0.65 on Binance’s order book, causing 2.2 billion market-cap c ...
Bitcoin Crash Hits Strategy and Spot ETFs, Saylor Signals More Buys
Yahoo Finance· 2026-02-02 09:55
Group 1 - The recent Bitcoin price crash has resulted in significant unrealized losses for Strategy, the largest corporate Bitcoin treasury holder, amounting to over $1 billion as BTC fell below $75,000 [1][2] - Strategy's average Bitcoin purchase price is $76,037, and the price briefly dropped to $74,500, leading to concerns among investors about potential volatility and liquidation risks [2] - Despite the losses, Bitcoin is currently trading around $76,711, which has placed the company's holdings back in positive territory [2] Group 2 - Other market participants view the Bitcoin price correction as a buying opportunity, with Binance allocating $1 billion of its users' funds to Bitcoin [3] - Spot Bitcoin ETFs have experienced heavy outflows, with the second- and third-largest weekly outflows recorded in late January, totaling $2.8 billion over two weeks [4][5] - The assets under management for U.S. spot Bitcoin ETFs have decreased by 31.5% from their October peak of $165 billion, coinciding with a 40% decline in the spot BTC price [5]
X @Bitcoin Magazine
Bitcoin Magazine· 2026-02-02 09:37
JUST IN: Binance added 1,315 #Bitcoin worth $100.7 million to their SAFU Fund per Arkham. https://t.co/Ha5xiuljbR ...
Binance moves 1,315 bitcoin into user protection fund as it prepares to buy $1 billion BTC
Yahoo Finance· 2026-02-02 09:24
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 ...
X @BSCN
BSCN· 2026-02-02 09:21
🚨JUST IN: CZ "LESS CONFIDENT" IN SUPERCYCLE DUE TO FUDAfter making calls for a $BTC Supercycle, @Binance Founder @cz_binance reversed his comments in a new AMA."Given all the FUD and all the emotions that was stirred up in the community, I'm less confident about it now" ...
X @Cointelegraph
Cointelegraph· 2026-02-02 09:17
🔥 JUST IN: Binance SAFU Fund bought 1,315 $BTC worth $100.7M. https://t.co/gGilMT23n4 ...
Bitcoin ETF holders, sitting on paper losses, may throw in the towel
Yahoo Finance· 2026-02-02 08:58
Core Insights - Bitcoin's price crash has resulted in an average loss of 15% for investors in spot exchange-traded funds (ETFs), with a significant paper loss of approximately $13,400 per BTC based on an average purchase price of $90,200 [1][2] - The demand for ETFs has significantly declined following the crash on October 8, which has been attributed to issues with Binance, the leading cryptocurrency exchange [2] - January marked the third consecutive month of net outflows for Bitcoin ETFs, totaling $6.18 billion, indicating a potential shift in market sentiment and investor behavior [3] Group 1 - Investors in Bitcoin ETFs are currently facing substantial losses, with the largest cryptocurrency trading around $76,800 [1] - The potential for ETF redemptions is heightened among short-term traders and speculators, which could exacerbate bearish market conditions [2] - A prolonged bear market could lead to capitulation among long-term holders, resulting in increased liquidation and trading volumes [3] Group 2 - Despite the current bearish sentiment, analysts suggest that institutional investments in ETFs are typically long-term and "sticky," making a full-scale capitulation less likely [4]