Binance CEO Assures 'SAFU Fund Will Be Maintained at Over $1 Billion'
CryptoNewsTerminal Staff12 Jul, 2024
Binance CEO Assures 'SAFU Fund Will Be Maintained at Over $1 Billion'
Binance CEO Richard Teng recently announced that Binance, one of the world's leading cryptocurrency exchanges, will maintain its Secure Asset Fund for Users (SAFU) at a value exceeding $1 billion. This announcement comes as Binance celebrates surpassing 210 million users and $100 billion in user assets earlier this year. Established in 2018, the SAFU fund serves as a financial reserve to protect users' assets in the event of extreme circumstances. Binance's commitment to maintaining the SAFU fund at such a high level demonstrates its dedication to safeguarding its users and ensuring the integrity and security of the platform.
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