SAFU stands for Secure Asset Fund for Users. This fund was launched by Binance in 2018 as a measure to protect user funds. Binance transfers a percentage of trading fees to this fund as an emergency measure, with the aim of protecting users in the event of a hack or security incident affecting customer funds.
In short, SAFU is an insurance fund to support the security of user funds and to emphasize Binance’s commitment to protecting its users’ assets.
