The world's largest cryptocurrency exchange, Binance, has completed the second major conversion of its Secure Asset Fund for Users (SAFU) into Bitcoin. According to an official announcement from the exchange's X account on February 4, 2026, Binance converted 100 million USD in stablecoins to acquire Bitcoin for the fund.
The transaction, spotted by Whale Alert, involved the purchase of 1,315 Bitcoins for approximately $100,548,147. Binance shared the source and destination wallet addresses, providing transparency for the community. This marks the second batch of conversions following the exchange's initial announcement on Friday, January 30, 2026, where it declared its intention to convert the entire SAFU fund to Bitcoin within 30 days.
The first conversion was executed on February 2, just three days after the public announcement. The SAFU fund, established to protect users in extreme situations, holds a total of $1 billion, all of which Binance plans to convert into Bitcoin.
In a related development, TRON founder Justin Sun stated on the same day that the TRON blockchain would follow Binance's lead and begin accumulating Bitcoin. This news comes amid significant market volatility. Bitcoin briefly touched a low of $73,000 on February 3, following an 18.8% crash from the $90,000 zone that began on January 28, wiping approximately $2.55 billion from the crypto market.
Analysts attribute the broader market downturn to several factors: a concurrent ~30% crash in gold and silver prices after they reached all-time highs, disappointing earnings reports from major tech companies (the "Magnificent 7"), and the nomination of the hawkish Kevin Warsh as the future Federal Reserve Chairman. At the time of reporting, Bitcoin had recovered some ground, trading around $76,248.
