Binance’s official blog reads: the Secure Asset Fund for Users (SAFU) has been increased to $1 billion, according to the latest statements.
The SAFU is an emergency insurance fund established in 2018 by Binance, whose CEO is Changpeng Zhao, to protect users in extreme market situations. Indeed, over the years, Binance has continued to monitor the size of the SAFU, keeping the balance at an appropriate level to safeguard its users.
Trust, integrity and transparency: the goals of Binance’s SAFU
As early as January 2022, Binance stated that SAFU was worth $1 billion. However, due to recent market conditions, that value is now $735 million, as can be verified on Binance’s official website.
Where it clearly states that both portfolios contain a combination of BUSD, BNB and BTC.
Following the recent FTX exchange disaster and subsequent critical market situations, Binance recently brought SAFU’s balance back to $1 billion. The official website of one of the largest crypto exc
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