Secure Asset Fund for Users (SAFU)

Secure Asset Fund for Users (SAFU)


What Is SAFU?

The Secure Asset Fund for Users (SAFU) is an emergency fund that was established by Binance in July 2018 to protect users' funds. When the fund was established, Binance committed a percentage of trading fees in order to grow it to a sizable level to safeguard users.

The Secure Asset Fund was valued at US$1 billion based on the opening price on January 29, 2022. The value of the fund will fluctuate based on the market. As of April 2024, the SAFU fund wallet comprises of 1 billion USDC.

The origin of SAFU

During unscheduled maintenance, Changpeng Zhao (CZ), former Binance CEO, tweeted out to users stating:

Funds are safe

After this, the phrase "Funds are safe" became regularly used by CZ to ensure users were aware that their funds were, in fact, safe.

In 2018, a content creator named Bizonacci uploaded a video on YouTube titled “Funds Are Safu”. It quickly spread and became a viral meme. Since then, the community began using the phrase "Funds are SAFU."