7/102 sources · 2 publishersUpdated Nov 4, 13:00 UTC
7,500 BTC From Binance SAFU Moves to an Unlabeled Address
Bitcoin from Binance's Secure Asset Fund for Users moved again on Nov. 3 after leaving the fund on Oct. 31. At 05:56 UTC, all 7,500 BTC in the intermediate wallet went to an unlabeled address, which later divided the coins among multiple outputs. SAFU held just over 7,500 BTC at the end of Nov. 3, valued at about $583 million.
Why it matters
The transfers make the coins' immediate destination less clear while leaving SAFU with roughly half of the 15,000 BTC it held after its February conversion. Binance has said it plans to restore the fund to approximately US$1 billion, but has not provided a timetable.
Key facts
- 1Binance transferred 7,500 BTC from its published SAFU address on Oct. 31. finance.yahoo.com
- 2At 05:56 UTC on Nov. 3, the intermediate wallet sent all 7,500 BTC to an unlabeled address. finance.yahoo.com
- 3The receiving address split the coins into 150 outputs of about 50 BTC each at 06:46 UTC. finance.yahoo.com
- 4SAFU held just over 7,500 BTC on Nov. 3, worth about $583 million at the cited bitcoin price. finance.yahoo.com
- 5Binance's SAFU FAQ says the fund will be rebalanced to $1 billion if its value falls below US$800 million because of BTC price fluctuations. finance.yahoo.com
Summary written by AlphAI AI Desk from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.