What does SAFU mean in crypto

"SAFU" in crypto is an acronym popularized by Binance CEO Changpeng Zhao, meaning "Secure Asset Fund for Users," an emergency insurance fund to protect exchange users' assets.

In the crypto world, “SAFU” is an acronym that stands for “Secure Asset Fund for Users.” It’s a term that has gained popularity primarily due to its association with Binance, one of the largest cryptocurrency exchanges globally.

The term “SAFU” originates from a tweet by Changpeng Zhao (CZ), the CEO of Binance, on July 3, 2018. In this tweet, CZ humorously referenced a meme from a YouTube video by the user “Bizonacci,” where the phrase “Safu” (Security Assets Funds for Users) was mispronounced in a comedic way, sounding like “SAFU.” The meme features the character “Anime Man” saying “It’s SAFU” in a context that implies something is secure or well-protected.

CZ’s tweet was intended to reassure users about the security of their funds on Binance. He announced that Binance would set aside a percentage of its trading fees to create a Secure Asset Fund for Users as a safety measure in case of a security breach or other unforeseen events. This fund acts as an emergency insurance for users’ assets, adding an extra layer of protection.

Since then, “SAFU” has become a popular phrase in the crypto community, often used to jokingly or seriously emphasize the security of one’s funds or the precautions taken to protect them. It’s a playful yet meaningful term that reflects the community’s focus on security and trust in handling digital assets.