Binance surpasses 300M users, applies for EU crypto license, and promotes Yi He to Co-CEO to drive global growth.
The world’s largest cryptocurrency exchange, Binance, has announced a major restructuring of Secure Asset Fund for Users (SAFU), converting its $1 billion stablecoin reserves entirely into Bitcoin over the next 30 days. The move aims to strengthen its long-term asset strategy and respond to market volatility.
In an update on X, Binance cited Bitcoin’s role as a core crypto ecosystem asset and emphasized its long-term value in safeguarding user funds. Notably, the move comes as Bitcoin falls to multi-month low following broader market drawdown.
The SAFU Fund, established in 2018 to protect users’ assets, originally grew from a percentage of trading fees. Currently, it is managed by Nest Clearing and Custody Limited under the Abu Dhabi Global Markets (ADGM) framework.
In the post, Binance claimed that it achieved several important milestones in 2025 that show it keeps users’ funds safe and manages risks well. The platform said it has helped in the recovery of 38,648 cases of incorrectly sent assets worth $48 million and has now recovered over $1.09 billion since its inception.
SAFU, or Secure Asset Fund for Users, is a reserve fund launched by Binance in 2018. The fund is sustained by a portion of the trading fees and serves as a financial cushion in the event of hacks or security breaches. Through compensating users and ensuring transparency, SAFU enhances user trust and confidence in the platform’s efforts to secure their assets.
The fund secures users on the Binance platform and also shapes the industry and crypto practices. The existence of SAFU encourages other platforms to put similar measures in place, thereby improving the security of the market.
Furthermore, the existence of SAFU can have a positive effect on the development of regulations and innovation in blockchain security, ensuring that the crypto develops with adequate safeguards for users. Although none of the amount within the fund have been used as of now.
Besides risk control, Binance continues investing in ecosystem development. The exchange recently surpassed 300 million registered users globally, adding 100 million users within 18 months, achieving over 180,000 new users daily.
To celebrate, Binance launched “300M Users, OneUnstoppableCommunity,” a global initiative inviting users to share experiences and perspectives.
Furthermore, Binance applied for a pan-European crypto license under the EU’s Markets in Crypto-Assets (MiCA) framework via the Hellenic Capital Market Commission in Athens. This application allows Binance to operate across multiple European markets legally. To support the review, international audit firms, including Ernst & Young, Deloitte, and PwC, are engaged in the process.
Binance also announced a leadership change last month during Binance Blockchain Week. Co-Founder Yi He was promoted to Co-CEO. Richard Teng noted, “Yi has been an integral part of the executive leadership team since the launch of Binance. Her innovative and user-focused approach has been instrumental in shaping the company’s vision.” The company remains committed to becoming “the most trusted and regulated exchange in the world.”
