The Secure Asset Fund for Users (SAFU) is an emergency insurance fund established in 2018 to protect Binance users in dire situations. Over the years, we have continued to monitor the size of SAFU, maintaining the balance at an appropriate level to safeguard our users.

In January 2022, we announced that SAFU was worth $1 billion. Due to recent market conditions, that value is now $735 million, as you can verify here and here. Both wallets hold a combination of BUSD, BNB, and BTC. 

As of November 2022, we have restored the balance of SAFU to $1 billion. We promised our users, along with the broader crypto ecosystem, that SAFU would always maintain a substantial level. We will continue to deliver on this promise and continue to build.

In addition to protecting users’ interests, the definition of SAFU includes three essential components for mass adoption: trust, integrity, and transparency. 

Retail traders and investors have a lot of trust in centralized crypto exchanges.

That’s why we’ve called on other centralized exchanges to follow our lead and publicly publish their insurance wallet addresses. Users deserve to know that they’re moving their hard-earned money to a platform that employs proper security measures and is completely transparent with user funds.

When users deposit their money on the Binance platform to use our products, they can rest assured that we are fiscally responsible with those funds. Binance is not and has never acted like an investment firm or hedge fund. The community has told us loudly that the industry needs to go above and beyond what’s required. 

It’s our responsibility as a collective to ensure that users feel comfortable in the cryptocurrency ecosystem. $BTC $ETH