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Justin Sun, HTX (former Huobi) advisory board member, introduced the SAFU fund after the platform had suffered a $8 million security breach. According to his tweet, the platform team introduced the SAFU fund in order to always be prepared for losses that may arise due to problems with the security of
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Cryptocurrency exchange Binance announced on March 17 that it has replaced the Binance USD (BUSD) holdings in its Secure Asset Fund for Users (SAFU) with TrueUSD (TUSD) and Tether (USDT). The move comes in response to Paxos’ recent move to stop minting new BUSD, which has led to the asset’s market capitalization
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February has been a great month for the narrative that crypto’s natural home is in Asia. Original Source
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Recently, the crypto market has gotten into a tight tunnel as prices keep decreasing. Most crypto assets are moving to the south
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As the liquidity crisis and acquisition of cryptocurrency exchange FTX continues, Binance CEO Changpeng “CZ” Zhao assured his community of insurance of sufficient funds backing the network. In a tweet on Nov. 9, CZ said that the exchange has once again topped its Secure Asset Fund for Users (SAFU) at $1
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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 to grow it to a sizable level to safeguard users. The fund's value fluctuates based on the market and SAFU
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Crypto’s Black Monday continues to wreak havoc. Changpeng Zhao, the CEO of crypto exchange Binance, tweeted that there would be a temporary pause on Bitcoin (BTC) withdrawals.Temporary pause of $BTC withdrawals on #Binance due to a stuck transaction causing a backlog. Should be fixed in ~30 minutes. Will update.Funds are
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Binance has announced one of its trademark features, the SAFU fund, has reached a milestone in its development. The SAFU fund, an acronym that stands for “Secure Asset Fund for Users,” has reached the amount of one billion dollars, securing the funds of users in case of a hacking emergency.
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