Binance, the world’s largest crypto and blockchain infrastructure provider, is announcing that it has updated its Secure Asset Fund for Users (SAFU) valued at $1 Billion.
Binance’s Secure Asset Fund for Users (SAFU)
The total value of the Binance Investor Protection Fund (SAFU) has reached $1 billion
Binance, the world’s largest provider of the crypto industry and blockchain ecological infrastructure, announced that its user-oriented Binance “Investor Protection Fund” (SAFU – Secure Asset Fund for Users) has now reached $1 billion.
Binance Investor Protection Fund (SAFU) is a risk protection fund established by Binance in July 2018 to protect the assets of Binance users.
When the fund was established, Binance pledged to allocate a portion of the proceeds to the safeguard fund to ensure that the fund could grow to a sufficient size to protect the interests of investors.
Changpeng Zhao (CZ), founder and CEO of Binance, said: “I often tell users: ‘Funds are safe’ at Binance. Today, the Binance Investor Protection Fund has exceeded $1 billion, providing users with It provides effective protection to protect users from less likely security problems. More importantly, we have a leading security risk control system, which will give users the highest degree of protection for their assets.”
CZ added: “Transparency is an important factor in building trust, so we have published SAFU’s wallet address. We advocate that all centralized exchanges can do the same to benefit the entire crypto ecosystem and inform governments, regulators and important Stakeholders to demonstrate Binance’s ability and commitment to promote industry transparency and protect industry users.”
When Binance established SAFU in 2018, it decided to allocate 10% of all transaction fees to the fund to provide risk protection for the assets of Binance users.
The current SAFU of 1 billion US dollars is enough to support the asset security of Binance users.
In the future, Binance will continue to support the SAFU fund to ensure that the size of the security fund is not less than 1 billion US dollars to protect the interests of investors.
The value of the Binance SAFU Fund (which now includes BNB, BUSD, and BTC, is $1 billion at the opening price on January 29, 2022, and will fluctuate according to the market) can be found at the new Binance SAFU wallet address ( Address 1 | Address 2 ) for viewing.