Top post on /r/cryptocurrency Good to see all these organic posts across social media.

MelangeBot OP • 2h ago Their insurance fund (SAFU) is completely wiped out, it's only $1 billion in BTC

The name of the fund was originally inspired by this meme

FWIW, at the end of every crypto bear market, a CEX usually blows up (eg FTX)...

> As of 2026, the SAFU fund comprises crypto assets valued at approximately US$1 billion, held entirely in Bitcoin

And decreasing, since BTC is dropping as we speak. Always a good idea to hedge a currency with the currency itsself

Stablecoins are frozen so the hole will likely be around two billion dollars.

Binance has equity and cash flow cover this, outside the insurance fund.

They custody $150B.

FTX was larger in dollar terms and ecosystem was smaller back in a day.

> Changpeng Zhao (CZ), former CEO of Binance, tweeted "Funds are safe"

Seems like the issue here is that he became former CEO. Funds are not safu without him...

Wait. How does the insurance fund run significantly lower than the primary?

Do you mean bull market?

But when FTX blew up crypto went down even further..

The insurance fund is not for covering hacks.

Binance is making so much money, covering this hack is peanuts for them.