alt Hacker NewsTheir insurance fund (SAFU) is completely wiped out, it's only $1 billion in BTC: https://www.binance.com/en/academy/glossary/secure-asset-fun...
The name of the fund was originally inspired by this meme: https://www.youtube.com/watch?v=DelF6zEHXpE
FWIW, at the end of every crypto bear market, a CEX usually blows up (eg FTX)...
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anonymous908213 • yesterday at 10:14 PM
> Changpeng Zhao (CZ), former CEO of Binance, tweeted "Funds are safe"
Seems like the issue here is that he became former CEO. Funds are not safu without him...
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Cyclone_ • yesterday at 11:00 PM
But when FTX blew up crypto went down even further..
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dist-epoch • yesterday at 10:25 PM
The insurance fund is not for covering hacks.
Binance is making so much money, covering this hack is peanuts for them.
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> As of 2026, the SAFU fund comprises crypto assets valued at approximately US$1 billion, held entirely in Bitcoin
And decreasing, since BTC is dropping as we speak. Always a good idea to hedge a currency with the currency itsself