Binance Tops Up $1 Billion SAFU Fund to Protect User Assets

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Nov 09, 2022, 08:00 ET

DUBAI, UAE, Nov. 9, 2022 /PRNewswire/ -- This week, Binance, the world's leading blockchain ecosystem and cryptocurrency infrastructure provider, announced it has topped up its Secure Asset Fund for Users (SAFU) to $1B in order to continue to provide industry-leading protection to users.

The SAFU fund was established in 2018 as an emergency insurance fund which offers protection to Binance users in extreme circumstances. The company has pledged to monitor the fund on an ongoing basis to ensure the fund size remains adequate to protect users' interests. Users can view the wallet addresses where the funds are stored here and here.

"It's our responsibility to protect our users while not only building the best and most secure platforms, but protecting them from any unforeseen issues. By providing the SAFU fund, we can give users some peace of mind," said Changpeng "CZ" Zhao, co-founder and CEO of Binance.

For more information, visit https://www.binance.com/en/blog/community/topping-up-safu-to-$1b-8460049926432191856

About Binance

Binance is the world's leading blockchain ecosystem and cryptocurrency infrastructure provider with a financial product suite that includes the largest digital asset exchange by volume. Trusted by millions worldwide, the Binance platform is dedicated to increasing the freedom of money for users, and features an unmatched portfolio of crypto products and offerings, including: trading and finance, education, data and research, social good, investment and incubation, decentralization and infrastructure solutions, and more. For more information, visit: https://www.binance.com

SOURCE Binance