Binance, the world’s largest cryptocurrency exchange, announced that its “Secure Asset Fund for Users” (SAFU) has reached a value of $ 1 billion.
Binance by January 31st According to the statement made on 2018 established in order to protect the interests of users. emergency insurance fund the one which SAFU, 1 billion dollars reached its value. The statement also Binanceto provide insurance against possible security breaches since the first day the fund was established. allocate 10% of all trading fees to the fund place was given.
Binance founder and CEO Changpeng Zhao (CZ) about the topic;
At Binance, we always said “funds are safe”. Today, the Binance Secured Asset Fund size acts as an effective collateral as well as protecting users against potential problems. We are confident that our users’ interests are well protected, coupled with our most advanced security measures.
made statements.
“Transparency”confidence“to create an important element stating that CZ therefore that they publish their insurance fund wallet addresses explained. CZ also calls on all central exchanges to publish insurance fund wallet addresses found.
in the statement Binance Smart Chain (BNB), Binance USD (BUSD), and Bitcoin (BTC) fund of assets value may vary depending on the market. specified.
Binance also ensure that it remains adequate to protect the interests of users for the purpose of SAFUthe size of will continue to monitor told.