Binance, the world’s largest crypto and blockchain infrastructure provider, today announced that it has updated its Secure Asset Fund for Users valued at US$1 Billion.

The Secure Asset Fund for Users (SAFU) is an emergency insurance fund that was established by Binance in July 2018 to protect users’ interests. Binance set aside a portion of its trading fees to help the fund grow to a large level and protect users’ interests.

Changpeng Zhao (CZ), Founder and CEO of Binance said: “At Binance we always said ‘funds are safe’, and today the Binance Secure Asset Fund size acts as an effective safeguard as well as protection for users against such unlikely issues. Coupled with our state of the art security, we are confident that our user’s interests are well-protected.

CZ is now available:

Transparency is an essential element in building trust. This is why we published our address for the insurance fund wallet. As it is beneficial for the ecosystem, we call on centralised exchanges worldwide to follow suit. It also shows regulators, government officials, and other stakeholders the collective resolve to maintain trust, integrity, transparency, and honesty in crypto-ecosystem.
Binance first created the Secure Asset Fund for Users in 2018 and allocated 10% of trading fees for insurance for security breaches. Binance will keep an eye on the SAFU size in the future to ensure that it remains sufficient to protect the users’ interests.

On the basis of its opening price, January 29, 2022. The Secure Asset Fund’s value was US$1Billion. Market conditions will affect the value of this fund. You can view the Fund in 2 wallet addresses. It includes BNB, BUSD, and BTC. These wallet addresses can be found here and here.

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