Binance, the world’s largest cryptocurrency exchange, has taken action for its $1 billion move as Bitcoin (BTC) experiences successive sharp declines.
At this point, Binance also completed a second round of purchases to convert its $1 billion stablecoin reserves in the SAFU fund into Bitcoin.
According to Arkham Intelligence data, Binance’s SAFU fund purchased an additional 1,315 BTC, worth $100.42 million.
With its latest purchase, the Binance SAFU fund has increased its total purchases over the past two days to 2,630 BTC, worth $201.12 million.