Binance Draws Down Half Its SAFU Bitcoin While Publishing New Reserve Proof

By Isaac • November 2, 2026 11:22 am •

Binance has used roughly half of the Bitcoin held in its publicly disclosed emergency fund while it works through the aftermath of the largest cryptocurrency theft on record.

The exchange confirmed that a 7,499 BTC transfer was tied to a partial deployment of its Secure Asset Fund for Users, better known as SAFU. At the same time, Binance published a new proof-of-reserves update intended to show customers that covered balances remained backed.

Those are two separate questions, and both matter. The reserve proof addresses customer assets at the snapshot.

The SAFU drawdown shows how much of Binance’s emergency cushion has already been put to work—and raises the question of when that fund will be fully restored.