Binance’s SAFU fund holds $1.27B in Bitcoin, sits on about $270M profit

Binance’s emergency insurance fund for users now holds over $1.27 billion worth of Bitcoin. That includes about $270 million in unrealized profit.

From stablecoins to 15,000 BTC

The fund is called SAFU, short for Secure Asset Fund for Users. Binance created it to cover customers if something goes badly wrong, such as a hack.

In mid-February 2026, Binance changed course. The exchange converted roughly $1 billion in stablecoins into 15,000 BTC.

The conversion wrapped up on February 12 with one final large purchase of 4,545 BTC. Bitcoin was trading at approximately $67,000 at the time.

At that price, the whole stash was worth approximately $1.005 billion.

The trade so far

By early May 2026, Bitcoin was trading above $81,000, and the fund’s value had climbed past $1.2 billion. At that point, unrealized gains stood at approximately $217 million.

The fund’s holdings were later reported at over $1.27 billion. Paper profit has reached about $270 million.

Binance has also made the fund’s wallet public. The address is 1BAuq7Vho2CEkVkUxbfU26LhwQjbCmWQkD, and anyone can check its balance on-chain.

Built-in guardrails

Binance said it would run regular audits of the fund. It also committed to a top-up rule: if the fund’s market value falls below $800 million, Binance said it will restore it to $1 billion.

A fund with a history

SAFU is not new. Binance set it up in July 2018, funding it with 10% of trading fees.

The fund has been called on before. It has covered user losses from security breaches, including a $40 million hack in 2019.

Binance has framed the 2026 conversion as a long-term view of Bitcoin as a reserve asset, citing Bitcoin’s transparency, auditability, and its role as a hedge against inflation and counterparty risk.

What this means for users and the market

For Binance customers, the fund worth over $1.27 billion is larger than the original $1 billion commitment. The fund now rises and falls with Bitcoin, with the $800 million floor as the safety rail.

A 15,000 BTC position held as long-term reserve is coins that are, in theory, not for sale during routine price swings.

Binance bought near $67,000, watched Bitcoin clear $81,000 by May, and is sitting on roughly a quarter-billion dollars in paper gains. Watch the wallet balance, the reported fund value relative to the $800 million line, and whether audits arrive on the schedule Binance promised.

Disclosure: This article was edited by John Chen. For more information on how we create and review content, see our Editorial Policy.