Binance founder Changpeng Zhao responded on social media that the SAFU fund purchased $1 billion worth of Bitcoin at an average price of $66,666.66, currently showing a floating profit of $270 million, which may purely be luck.

SAFU stands for Secure Asset Fund for Users, a user protection fund prepared by Binance for extreme situations such as hacking. In mid-February 2026, the fund converted about $1 billion in stablecoins into 15,000 Bitcoins, completing the conversion with the last batch of 4,545 Bitcoins on February 12, when Bitcoin was around $67,000, with a total holding of about $1.005 billion.

Based on the $1 billion corresponding to 15,000 Bitcoins, the average price is $66,666.67, which is essentially consistent with the circulated figure of $66,666.66. By early May 2026, Bitcoin was above $81,000, and the fund's value exceeded $1.2 billion, with a floating profit of about $217 million. Subsequent holdings were reported to exceed $1.27 billion, with a paper profit of about $270 million.

Zhao did not attribute this profit to trading ability, only providing luck as an explanation. He did not clarify whether he participated in the order or announce any profit-taking or conversion of Bitcoin back to stablecoins. The floating profit has not been realized, and the fund still holds Bitcoin.

The public wallet address is 1BAuq7Vho2CEkVkUxbfU26LhwQjbCmWQkD, and the balance can be verified on-chain. After the conversion was completed, the fund's valuation unit changed from stablecoins to Bitcoin, and any drawdown would directly reduce the payable assets.

The buyer is SAFU, and the seller is the Bitcoin market at that time, not Zhao's personal account. The event was driven by the protection fund actively converting stablecoins into Bitcoin. Funds moved from dollar-pegged assets into Bitcoin spot. The beneficiaries are users whose payout pool thickens when Bitcoin prices are above costs, while the pressured party is the same group of users when prices drop below $66,666.

The $270 million floating profit corresponds to a cost of about $1 billion, with an increase of about 27%. Zhao did not provide a new target position.

Source: Public Information