Binance's CZ says Binance is making the stablecoin to Bitcoin conversion for its SAFU funds at the perfect time despite recent market volatility.
Binance's CZ says Binance is making the stablecoin to Bitcoin conversion for its SAFU funds at the perfect time despite recent market volatility. Despite the recent heavy downturn in the crypto market, the world’s leading cryptocurrency exchange Binance has continued to purchase Bitcoin in large quantities amid efforts to expand its user protection services.
Following a post providing an update on Binance’s SAFU fund asset conversion, the exchange’s founder and former CEO Changpeng Zhao has publiclyWhile the exchange had specifically revealed its plans to completely convert its stablecoin holding to Bitcoin within the space of one month, Binance CZ says the plan has fallen within the perfect time. Ripple Invited to White House, Peter Brandt Calls Out Bitcoin Manipulation, Musk Endorses Dogecoin, Vitalik Buterin Dumps Ethereum — Top Weekly Crypto News Crypto Market Review: $500,000,000 in XRP Buying Volume, Shiba Inu Surprisingly Bullish, Will Bitcoin Be Saved Before $50,000? Binance’s CZ has made his post in response to a viral tweet confirming that Binance has recently completed the purchase of 3,600 BTC for the SAFU fund.Furthermore, Binance stated that the conversion process is still underway and it aims to be fully completed within 30 days of the original announcement. As such, the exchange has less than a month to complete its stablecoin to Bitcoin transitioning.Notably, the exchange further stressed that it will continue acquiring Bitcoin for the SAFU fund and provide regular updates to the community as progress continues.The move has seen Binance double down on the asset’s dip as the exchange kick-started its SAFU fund Bitcoin conversion move when the asset was trading in the deep red territory.Ripple Invited to White House, Peter Brandt Calls Out Bitcoin Manipulation, Musk Endorses Dogecoin, Vitalik Buterin Dumps Ethereum — Top Weekly Crypto News Ripple Invited to White House, Peter Brandt Calls Out Bitcoin Manipulation, Musk Endorses Dogecoin, Vitalik Buterin Dumps Ethereum — Top Weekly Crypto News Ripple Invited to White House, Peter Brandt Calls Out Bitcoin Manipulation, Musk Endorses Dogecoin, Vitalik Buterin Dumps Ethereum — Top Weekly Crypto News
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