SAFU meaning stands for “Secure Asset Fund for Users”. As crypto traders, we may or may not have heard this term.
The Secure Asset Fund for Users (SAFU) is an emergency insurance 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. The SAFU fund wallets comprise BNB, BUSD, and BTC.
SAFU actually originated as a parody of Changpeng Zhou’s, the Binance CEO, tweet, stating that “Funds are safe”. A content creator called Bizonacci uploaded a video on Youtube titled “Funds Are Safu”. Since then, the community quickly began using the phrase “Funds are SAFU”.
We hope that you have a better understanding of SAFU meaning from this article.
