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Crypto

CZ rebuts four rumours about Binance, from BTC sale claims to crash blame

Binance founder and former CEO Changpeng Zhao (창펑자오) rejected four rumours surrounding him and Binance. He denied claims of a Polymarket event and $7 million in volume, pushed back on talk that he halted a crypto supercycle, and said Binance users—not the exchange—sold $1 billion worth of bitcoin. He also said SAFU fund holdings would be shifted from stablecoins to bitcoin in stages over about 30 days, with limited market impact.

Crypto

Binance makes first bitcoin purchase of $100 million using SAFU fund

Cryptocurrency exchange Binance used part of its Secure Asset Fund for Users (SAFU) to buy $100 million worth of bitcoin, Cointelegraph reported on Feb. 2. The purchase brings the fund’s total holdings to 13,000 BTC and was made after bitcoin fell into the $70,000 range. Cointelegraph said Binance converted 10 percent of the SAFU fund into bitcoin. The report said the fund still has $900 million in remaining buying capacity.