Binance founder Changpeng Zhao, better known as CZ, used X to revisit the origins and development of SAFU, the exchange’s Secure Asset Fund for Users. He said the term "SAFU" started as a simple internet meme before turning into an emergency reserve designed to protect users. According to the post cited by CZ, the fund was launched in 2018 and was used to compensate users after Binance suffered a 7,000 BTC hack in 2019. CZ also said that, as of 2026, the SAFU fund has been converted into holdings of 15,000 BTC. He added that Binance has committed to topping the reserve back up to $1 billion if its value falls below $800 million. In the same post, CZ said trust is built over years through consistency, accountability, and putting users first.
Techub News reported that Binance founder Changpeng Zhao, or CZ, posted on X to look back at the origins and evolution of SAFU, the Secure Asset Fund for Users.
CZ said the term "SAFU" began as a simple internet meme and later grew into a $1 billion emergency reserve intended to protect users.
He said the fund was launched in 2018 and was used to compensate users after Binance suffered a 7,000 BTC hack in 2019.
According to the material cited by CZ, the SAFU fund had been converted into holdings of 15,000 BTC as of 2026. He added that if the fund’s value drops below $800 million, it will be replenished to $1 billion.
CZ also wrote that building trust takes years of consistency, accountability, and putting users first.
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