OfficialreservesStatement 293
The SAFU fund is held and managed by Nest Clearing and Custody Limited, a Recognized Clearing House regulated by the Abu Dhabi Global Market (ADGM) Financial Services Regulatory Authority.
Binance said on 31 October that the SAFU fund is held and managed by Nest Clearing and Custody Limited, regulated by the ADGM Financial Services Regulatory Authority.
This line is our short summary of the quote below. The quote is the evidence.
Cited in theories
- How the SAFU fund compares with the reported loss: Context. SAFU is held by a regulated entity in Abu Dhabi.
Other statements from the same source
OfficialreservesStatement 737
Binance stated that the Futures Insurance Funds remain above the coverage level required under its established risk-management framework and that it tops them up from company funds when the balance falls below the required level.
The Futures Insurance Funds remain above the coverage level required under Binance’s established risk-management framework, helping ensure the fund remains available to support users during extreme market conditions. We monitor fund size continuously against historical stress scenarios reflecting extreme but plausible market conditions, and top it up when required. Due to volatility, no exchange can completely avoid auto-deleveraging, but we always strive to keep occurrences to a minimum. Will Binance replenish the Futures Insurance Funds? The funds are maintained above their required size. When the balance falls below the level our framework requires, Binance tops them up from company funds, as we have done previously. What was released was excess above that level, which is why it could be reallocated without affecting coverage.
OfficialreservesStatement 733
Binance stated that the Secure Asset Fund for Users (SAFU) is an emergency reserve fund established in July 2018 to protect user assets in extreme cases, and that it is held and managed by Nest Clearing and Custody Limited, a Recognized Clearing House regulated by the Abu Dhabi Global Market (ADGM) Financial Services Regulatory Authority.
SAFU is an emergency reserve fund established by Binance in July 2018 to protect user assets in extreme cases, such as security breaches or platform-level incidents. Binance allocated a percentage of trading fees to grow the fund to a substantial level over time. The SAFU fund is held and managed by Nest Clearing and Custody Limited, a Recognized Clearing House regulated by the Abu Dhabi Global Market (ADGM) Financial Services Regulatory Authority. A portion of the funds serves as capital reserves as part of Binance regulatory obligations in the ADGM.
OfficialrecoveryStatement 180
Binance said in Recovery Update #3 that it is committing to replenishing the SAFU fund to approximately US$1 billion.
Binance is committing to replenishing the SAFU to return the fund size to approximately US$1 billion.
OfficialwithdrawalsStatement 179
Binance said in Recovery Update #3 that it remained on track to reopen withdrawals on Sunday 2026-11-01.
We remain on track to reopen withdrawals within our previously stated timeframe (on Sunday, 2026-11-01) and will provide a further update as soon as details are confirmed.
OfficialreservesStatement 178
Binance said in Recovery Update #3 that the full zero-knowledge proof takes approximately 40 to 50 hours to generate and was estimated to be ready by Tuesday 2026-11-03 UTC.
The full zero-knowledge proof takes approximately 40 to 50 hours to generate due to the computational workload, so users holding any of these ten tokens can independently verify that their assets are at a minimum 1:1 backed once the full proof is generated, estimated to be by Tuesday, 2026-11-03 (UTC).