A few years after launching the Secure Asset Fund for Users (SAFU) initiative, Binance has updated it, and its value rose to $1 billion. This comes amid the growing number of hacks and security breaches in the cryptocurrency industry.
“Transparency is an important element of building trust, which is why we are publishing our insurance fund wallet addresses. We call on all centralized exchanges to do the same 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.” – commented Binance CEO, Changpeng Zhao.