What is SAFU?
SAFU is an emergency fund established by Binance to protect users' funds. When the fund was established, Binance committed a percentage of trading fees to grow it to a sizable level to safeguard users.
As of April 18, 2024, SAFU comprises 1 billion USDC. The value of the fund will fluctuate based on the market. Binance will continue to monitor the size of SAFU to ensure that it remains of a size adequate to protect users’ interests
What assets are in the SAFU wallets?
As of April 18, 2024, the SAFU fund wallet comprises 1 billion USDC. The composition of token(s) in the SAFU fund wallet(s) may be adjusted from time to time as Binance considers appropriate and in the interest of users.
Where can I view the SAFU wallet address?
The SAFU wallet address is:
What are the origins 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."
Binance calls on all centralized exchanges to publish their fund wallet addresses as this will benefit the crypto ecosystem as a whole and demonstrate to governments, regulators, and important stakeholders our collective commitment to uphold trust, integrity, and transparency in the crypto ecosystem.
What kinds of losses are covered by SAFU?
The types of losses covered by SAFU may include, but are not limited to, losses sustained by users due to a compromise of their Binance account login credentials resulting from a vulnerability or other deficiency in Binance’s systems and/or security protocols. Binance retains full discretion to determine what types of loss and which claims are eligible for recovery from SAFU and over management of the SAFU funds generally. Binance may also change the intended use of SAFU funds from time to time at its sole discretion.
How can I make a claim if I think I am entitled to SAFU compensation?
Requests for SAFU payment can be made via Binance Support and should be made within 90 days from the date of the eligible loss.
Note: The 1 billion USDC value of SAFU is based on the opening prices of January 29, 2022.
Risk warning: Cryptocurrency trading is subject to high market risk. Please make your trades cautiously. You are advised that Binance is not responsible for your trading losses