Tag: Bitcoin

Binance completes final tranche of 4,545 BTC, wrapping up $1B SAFU conversion. SAFU fund now holds 15,000 BTC valued at approximately $1.005 billion. Exchange commits to rebalancing if value falls below $800 million. Binance, the world’s leading cryptocurrency exchange, has successfully finalized the conversion of its $1 billion Secure Asset Fund for Users (SAFU) reserves into Bitcoin. The process concluded with the...

South Korea’s Financial Supervisory Service has escalated its inspection of Bithumb into a comprehensive probe following a $43 billion Bitcoin distribution error on February 6. The incident exposed critical flaws in the exchange’s internal controls, allowing the disbursement of 620,000 BTC despite holding only around 46,000 BTC. Bithumb recovered 99.7% of the misdistributed assets and plans to compensate affected users at 110%...

Bitcoin has powered back to the $70,000 level, marking a dramatic rebound that has lifted sentiment across the cryptocurrency market. After briefly dipping below $60,000 earlier in the week, Bitcoin’s resurgence has been swift and decisive. The benchmark cryptocurrency surged nearly 15% in just two days, fueled by strong inflows into spot Bitcoin exchange-traded funds (ETFs) and renewed institutional demand. Traders now view $70,000 as a...