Binance, the largest cryptocurrency exchange, has announced a significant change to its SAFU (Secure Asset Fund for Users) assets. The company plans to convert all SAFU assets, including BTC and BNB, into the stablecoin USDC, aiming for a $1 billion market value.

The crypto community has reacted to Binance's decision to convert its SAFU fund into USDC, a stablecoin managed by Circle. This move is part of Binance's strategy to enhance the fund's stability and reliability at a $1 billion market value.

The SAFU fund, valued at $1 billion, includes assets such as BTC, BNB, USDT, and TUSD. Binance's announcement reveals that these assets will be converted into USDC today, April 18, to stabilize the fund's market value.

This decision reflects the volatile nature of cryptocurrencies, pushing Binance to focus on a single stablecoin for reliability and stability. The exchange's move comes amid pre-halving volatility in the global crypto market.

Recent data shows that Binance has already moved large amounts of BTC from the SAFU fund to its hot wallet. Arkham's insights reveal that the SAFU fund (1BAuq7…CmWQkD) shifted all 16.277k BTC to the Binance hot wallet at 12:42 UTC today. Additionally, Spotonchain's insights showcase two SAFU wallets transferring 1.36 million BNB to Binance's hot wallets.

Binance's decision to shift from BUSD to TUSD and USDT in the SAFU fund last year reflects its dynamic approach to user protection. The company reacted to BUSD's steady market value decline by shifting to TUSD and USDT.

Binance's move to convert all SAFU assets into USDC further solidifies its position as a global leader in crypto exchanges, demonstrating its commitment to user protection and stability during market turbulence.