FTX Contagion: User Funds Are NOT SAFU
Welcome to another video from FTX Exchange.
Today, we’re talking about user funds and the safety of your funds on FTX.
The answer is simple: user funds are NOT SAFU.
What does SAFU mean?
It stands for Secure Asset Fund for Users. It’s an insurance fund set up by FTX to protect user funds from losses due to exchange hacks, insolvency, or other catastrophic events.
But here’s the thing: FTX does not have a SAFU fund.
FTX is a regulated exchange, and as such, we have strict security measures in place to protect user funds. We have multiple layers of security, including cold storage and multi-signature wallets.
But we don’t have a SAFU fund, and we don’t plan to set one up in the future.
We understand that some people may be uncomfortable with this, but we believe that it is the best way to protect user funds.
If you have any questions or concerns about the safety of your funds on FTX, please reach out to our support team. They will be more than happy to help.