Binance SAFU fund has spent half its bitcoin, about $580 million, data shows
AI summary
Binance's Secure Asset Fund for Users (SAFU) has spent roughly half of its bitcoin holdings, about $580 million worth, according to on-chain data. The user protection fund now sits below the $800 million threshold that Binance's own rules say should trigger a top-up, and the exchange has not said when it will refill it. Traders may read the drawdown as a sign of stress or reduced safety buffer at the largest exchange, a confidence concern even if no customer funds are directly at risk.
