21 BTCFunds are SAFU
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In plain words
During an unscheduled Binance maintenance in 2018, CEO Changpeng Zhao kept telling users “funds are safe”. YouTuber Bizonacci turned it into a viral video with the misspelling “SAFU”, and Binance then named its emergency insurance fund the Secure Asset Fund for Users (SAFU).
Origin story
During an unscheduled Binance maintenance in 2018, CEO Changpeng Zhao kept telling users “funds are safe”. YouTuber Bizonacci turned it into a viral video with the misspelling “SAFU”, and Binance then named its emergency insurance fund the Secure Asset Fund for Users (SAFU). Bitcoiners use it ironically: a reminder that exchange promises are not self-custody.
See also
- HODLDuring a crash, a BitcoinTalk user admitted he was a bad trader, a little drunk, and simply holding. He misspelled “holding” in the title.
- Laser eyesAs bitcoin crossed $50,000, a few accounts added red laser beams to their profile pictures with the rule: keep them until $100K. Soon members of Congress, Saylor and much of Bitcoin Twitter joined; El Salvador's president followed.
- Michael SaylorMichael Saylor is the co-founder and executive chairman of Strategy (formerly MicroStrategy), the company that holds more bitcoin than any other. Since 2020 he has been bitcoin's loudest corporate advocate, known for his quotes and memes.
- Orange pillA riff on the red pill from The Matrix (1999), in Bitcoin orange: the moment someone “gets” Bitcoin, or the act of explaining it to a friend (“I orange-pilled my dad”). We built a whole page for doing it kindly.
References
- Binance Academy academy.binance.com
- CZ on X, 4 Jul 2018 x.com