Binance secure asset fund for users (SAFU) is roughly 50% BNB per the Wall Street Journal

I just read an article from the Wall Street Journal about what SAFU means. It’s the Secure Asset Fund for Users. It’s essentially a rainy day fund for Binance to cover funds lost to the exchange getting hacked or some other exchange issue. That was enlightening for me.

The bad part of the fund is that it’s roughly 50% BNB. A made up token by Binance. Similar to the FTT token for FTX.

Binance has roughly $850 million in the fund and half is BNB token. They can’t use half the fund without tanking their own coin. They will need every ounce of that fund to fight the SEC. I hope they have more than just that fund for their legal defense. Hope your finds are SAFU