Binance launched the Secure Asset Fund for Users (SAFU) in July 2018 as an emergency fund to safeguard user funds. Binance allocated a portion of trading fees to bolster the fund’s size, enhancing its ability to provide protection.
As of January 29, 2022, the Secure Asset Fund holds a value of $1 billion, subject to market variations. The fund’s valuation will ebb and flow based on market conditions. The SAFU fund encompasses wallets containing BNB, BTC, USDT, and TUSD, constituting its foundational assets.
SAFU wallet addresses:
• BTC: 1BAuq7Vho2CEkVkUxbfU26LhwQjbCmWQkD
• BNB and USDT (BEP20): 0x4B16c5dE96EB2117bBE5fd171E4d203624B014aa
• TUSD (ERC20): 0x4B16c5dE96EB2117bBE5fd171E4d203624B014aa
The origin of SAFU
In instances of unscheduled maintenance, Binance CEO Changpeng Zhao (CZ) took to Twitter, assuring users with the statement “Funds are safe.”
Following this incident, the phrase “Funds are safe” turned into a consistent reassurance from CZ, underscoring the security of users’ assets.
In 2018, a content creator by the name of Bizonacci posted a YouTube video titled “Funds Are Safu,” which swiftly gained traction and evolved into a viral meme. Since then, the crypto community has embraced the phrase “Funds are SAFU” as a light-hearted yet powerful affirmation of the safety of their holdings.
Looking for Blockchain Development, NFTs, Website Design, Token Creation, or Other services? Reach out to us at WebGTR. Let’s discuss and bring your vision to life.
Website | Twitter | Instagram | Telegram Official Group | WhatsApp