Binance Response to Recent Publicity: SAFU Fund to Convert to Bitcoin Reserve, Discloses Risk Management and Compliance Achievements

**Binance China Issues Open Letter to Crypto Community Amid Market Concerns** On January 30, Binance China released an "Open Letter to the Crypto Community" addressing recent market and community concerns. The platform stated that as it scales, industry fluctuations impact its performance—and it will uphold higher standards, enhancing governance, risk control, and transparency. Key highlights: - **Asset Recovery**: Helped users recover 38,648 mis-deposited assets valued at $48 million in 2025; cumulative recovery exceeds $1.09 billion. - **Risk Control**: Assisted 5.4 million users in risk identification annually, preventing ~$6.69 billion in fraud losses. - **Law Enforcement Collaboration**: Partnered with global law enforcement to combat $131 million in illicit activity. - **Listings & Ecosystem**: By 2025, spot listings cover 21 public chains (focus on ETH, BSC, SOL); 13 new public chains onboarded. - **Asset Transparency**: As of end-2025, reserve proof covers ~$162.8 billion in user assets across 45 assets. **SAFU Fund Adjustment**: The original $1 billion stablecoin reserve will gradually convert to Bitcoin, with completion planned within 30 days. If its market value drops below $800 million, additional BTC will be added to restore it to $1 billion. Binance emphasized it will continue investing in crypto ecosystem development under principles of public transparency and long-termism, working with the industry to address cyclical fluctuations.