Binance Secure Asset Fund for Users (SAFU) has a $1 billion market cap

Binance is announcing that it has updated its Secure Asset Fund for Users (SAFU) valued at $1 Billion. Users can view the Secure Asset Fund wallets on wallet address 1 and wallet address 2.
Binance calls on all centralized exchanges to publish their insurance fund wallet addresses, as it will benefit the entire ecosystem and demonstrate to governments, regulators and important stakeholders our collective commitment to uphold trust, integrity and transparency in the crypto ecosystem.
The SAFU is an emergency insurance fund that was established by Binance in July 2018 to protect users’ interests. When the fund was established, Binance began allocating 10% of all trading fees in order to grow it to a sizable level to safeguard users’ interests. Moving forward, Binance will continue to monitor the size of the SAFU in order to ensure the fund size remains adequate to protect users’ interests.
Note: The $1 Billion value is based on the opening prices of 2022-01-29.
Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.

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