What Does SAFU Mean?
In crypto, the term “SAFU” denotes that funds or assets are safe. Among crypto communities, you can use the term “SAFU” interchangeably with “Safe”.
“SAFU” is usually used among a project’s promoters or team to assure investors that their investment will be safe. It can also be used by investors asking one another if the platform is safe.
Depending on the context, “SAFU” can also refer to a monetary fund established by Binance. “SAFU” is actually an abbreviation for “Secure Asset Fund for Users”, a fund created by Binance to protect users’ funds.
Connotation
The term carries a positive connotation as it reassures investors that their funds are safe and protected.
Word Of Caution
When teams or promoters label their project as “SAFU”, it is important not to take it at face value, as sometimes, the project might still be a scam. It is important to do your due diligence on each investment you make.
Origin
The term was popularized by Changpeng Zhao, CEO Of Binance, who has repeatedly used the term “SAFU” in his tweets.
#Binance does not have exposure to SVB. Funds are #SAFU.
— CZ 🔶 Binance (@cz_binance) March 10, 2023
Examples
Here are some ways “SAFU” can be used:
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Funds are SAFU
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Is the platform SAFU?
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KYC and Audit done, 100% SAFU
Seems another hack happened to multichain. Chainge has paused crosschain service related to fantom. Other crosschain and crosschain swap service are all good and safe#SAFU
— DJ Qian 🪢 (@djqianfusion) July 7, 2023
Hwee Yan has been involved in the cryptocurrency space since 2021. Currently pursuing a degree in Linguistics and Multilingual studies at Nanyang Technological University, she is a writer who is mainly interested in NFTs, crypto trends and memecoins. Follow the author on Twitter @cryptohy8
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