Binance has spent half its SAFU bitcoin, leaving about $580 million in the fund after Oct. 31 withdrawals

Binance’s emergency reserve for users now holds about 7,500 bitcoin, roughly $580 million at current prices, after Oct. 31 withdrawals cut the fund in half. For PSPs and merchants watching exchange risk, the interesting part is not the headline number — it’s that Binance has said it will refill the fund, but has not given a timeline.

1. The wallet Binance publishes as its Secure Asset Fund for Users, 1BAuq7Vho2CEkVkUxbfU26LhwQjbCmWQkD, held just above 7,500 BTC as of Tuesday, according to mempool.space, after four transactions on Oct. 31 reduced its bitcoin balance. In February, when Binance finished converting the roughly $1 billion fund from stablecoins into bitcoin, the wallet held 15,000 BTC.
2. At about $77,000 per coin, the remaining bitcoin is worth about $580 million. That is below the original scale of the reserve, but Binance’s SAFU FAQ says the exchange rebalances the fund back to $1 billion if its value falls below $800 million “due to BTC price fluctuations.”
3. The thing is, that replenishment rule appears to cover market moves, not spending. Binance said on Oct. 31 that it would make a partial SAFU deployment as part of the $6.34 billion it set aside to cover the hack, alongside its corporate treasury and a portion of its futures insurance fund.
4. Binance also pledged to restore the emergency fund to about $1 billion, but gave no timeline for the refill and has not said how much of the insurance fund was used. For operators, that leaves the usual question unresolved: how quickly the reserve is rebuilt after it is tapped, not just how large it was when nobody needed it.
5. CoinDesk has reached out to Binance for comment. The exchange has said it has replaced 90% of stolen crypto after the massive $6.3 billion breach.