SAFU is a term used to describe the state of being “safe” in the cryptocurrency ecosystem. The first person to use SAFU was the YouTube channel Bizonacci, which commented on a tweet by Binance CEO CZ in July 2018.
What does SAFU mean?
The crypto ecosystem is known for its unique jargon. While those in the community brag about introducing new terms to the ecosystem, the popular crypto slang has become more popular after digital assets have been well integrated into our lives.
In crypto jargon, SAFU means that something is “safe.” Binance CEO Chanpang Zao shared a tweet with the words “Funds are safe” in July 2018. The YouTube channel Bizonacci made a funny video after this tweet. While the video with the title “Funds are Safu” attracted attention, the word has since turned into a kind of crypto slang.
Binance also created a fund called SAFU to protect Binance stock market users and recorded the following statements on the subject:
“To protect the future assets of all users, Binance will create a Secure Asset Fund for Users (SAFU). From 07/14/2018, we will allocate 10 percent of all transaction fees received to SAFU to provide protection for our users and their funds in extraordinary circumstances. This fund will be stored in a separate cold wallet.”
The crypto community uses the term “Safu” to indicate or ask if their funds are safe on a crypto exchange in an emergency. On the other hand, although some people stated that the word Safe, which means “safe/security” in English, is a typo, Urban Dictionary listed this expression as a word on its own and published its meaning.
