Funds Are Safu

While the folks who've been around since the last cycle will no doubt remember it, newer members may not be aware of this classic video of the safety of Binance funds.

It's a delightful meme from a relatively simpler time in Crypto, made in response to this post from Binance at the time:

Fellow Binancians,

At 2018/07/03 20:18:00 (UTC), irregular trades were detected from a number of API users, triggering our internal risk management system. As such, Binance made a timely decision to suspend trading, withdrawals and other account functions.

We have since taken the following actions relating to this incident:

[...]

• To protect the future interests of all users, Binance will create a Secure Asset Fund for Users (SAFU). Starting from 2018/07/14, we will allocate 10% of all trading fees received into SAFU to offer protection to our users and their funds in extreme cases. This fund will be stored in a separate cold wallet.