加密货币交易所保险基金在牛市中飙升超过 1B 美元

在加密货币牛市中，加密货币交易所保险基金飙升超过 10 亿美元。 Binance的用户安全资产基金（SAFU）已超过20亿美元，而Bitget的保护基金已飙升至6.12亿美元。尽管大多数交易所都提供一些保险，但只有币安和 Bitget 披露了其链上地址，这引发了人们对其他交易所保险基金的透明度和完整性的质疑。

Crypto Exchange Insurance Funds Soar Amidst Market Surge

加密货币交易所保险基金在市场飙升中飙升

The ongoing crypto bull market has witnessed a significant surge in the value of top exchange insurance funds, with several major platforms reporting substantial increases in their holdings.

持续的加密货币牛市见证了顶级交易所保险基金价值的大幅飙升，几个主要平台报告其持有量大幅增加。

Binance's Secure Asset Fund for Users' (SAFU)

币安用户安全资产基金 (SAFU)

Binance, the world's leading cryptocurrency exchange, has witnessed a remarkable increase in the value of its SAFU fund, which is designed to provide insurance protection for users. As of April 3, the fund's balance exceeded $2.03 billion, representing an increase of over $1 billion since its initial $1 billion balance in January 2022. This growth can be attributed primarily to the appreciation of Bitcoin (BTC), Binance Coin (BNB), Tether (USDT), and TrueUSD (TUSD), which constitute the fund's assets.

全球领先的加密货币交易所币安的SAFU基金价值显着增长，该基金旨在为用户提供保险保障。截至 4 月 3 日，该基金的余额超过 20.3 亿美元，较 2022 年 1 月最初的 10 亿美元余额增加了超过 10 亿美元。这一增长主要归因于比特币 (BTC)、币安币 (BNB)、 Tether（USDT）和TrueUSD（TUSD）构成了该基金的资产。

Bitget's Protection Fund

Bitget保障基金

Similarly, crypto exchange Bitget has reported a surge in the value of its $300 million protection fund, which was launched in November 2022. The fund has since grown to $612 million due to the appreciation of its Bitcoin holdings. Bitcoin has experienced a 136% increase in value over the past year, while BNB has gained 79.36%, contributing to the overall growth of the fund.

同样，加密货币交易所 Bitget 报告称，其于 2022 年 11 月推出的 3 亿美元保护基金价值激增。由于其持有的比特币升值，该基金已增至 6.12 亿美元。比特币在过去一年中价值增长了 136%，而 BNB 则上涨了 79.36%，为基金的整体增长做出了贡献。

Discrepancies in Insurance Disclosures

保险披露的差异

While most crypto exchanges offer some form of insurance protection for users, only a few, including Binance and Bitget, have disclosed their on-chain addresses. This transparency allows users to verify the existence and value of these funds independently.

虽然大多数加密货币交易所都为用户提供某种形式的保险保护，但只有币安和 Bitget 等少数交易所披露了其链上地址。这种透明度使用户能够独立验证这些资金的存在和价值。

In contrast, crypto exchange Huobi, now known as HTX, announced a 20,000 BTC ($1.32 billion) reserve in an independent address in 2019. However, it remains unclear whether the exchange has maintained this balance until now, especially given the recent financial difficulties faced by the HTX group of companies.

相比之下，加密货币交易所火币（现称为 HTX）于 2019 年宣布在一个独立地址中储备 20,000 BTC（13.2 亿美元）。然而，目前尚不清楚该交易所到目前为止是否保持了这一平衡，特别是考虑到最近面临的财务困难由 HTX 集团公司。

Crypto exchange OKX has a $700 million "Risk Shield" program for user protection, but it is unclear whether this amount comprises tokens, stablecoins, fiat funds, or a combination thereof.

加密货币交易所 OKX 有一个价值 7 亿美元的“风险盾”计划来保护用户，但尚不清楚这笔金额是否包括代币、稳定币、法定基金或其组合。

Some exchanges, such as Coinbase, offer insurance based on geographical location and the type of funds held (fiat or crypto).

一些交易所（例如 Coinbase）根据地理位置和持有的资金类型（法定货币或加密货币）提供保险。

Reasons for Withholding Disclosure

不披露的原因

Exchanges may choose not to disclose the on-chain addresses of their insurance funds for various reasons, including concerns about cybersecurity attacks. Additionally, in the case of defunct cryptocurrency exchange FTX, deception played a role in withholding such information. Former FTX CTO Gary Wang revealed that the exchange's $100 million insurance fund in 2021 was fabricated and did not contain any FTX tokens (FTT).

出于各种原因，包括担心网络安全攻击，交易所可能会选择不披露其保险资金的链上地址。此外，在已不复存在的加密货币交易所 FTX 的案例中，欺骗在隐瞒此类信息方面发挥了作用。 FTX前CTO Gary Wang透露，该交易所2021年1亿美元的保险基金是捏造的，不包含任何FTX代币（FTT）。

Regulatory Developments

监管动态

On-chain addresses only provide a partial view of an exchange's overall insurance posture, as they do not include information about off-chain liabilities. In light of this, certain jurisdictions, such as Hong Kong, have mandated that crypto exchanges provide insurance for users that covers up to 50% of their fiat and crypto assets.

链上地址仅提供交易所整体保险状况的部分视图，因为它们不包含有关链下负债的信息。有鉴于此，香港等某些司法管辖区已强制要求加密货币交易所为用户提供最多覆盖其法定资产和加密资产 50% 的保险。

Related Development

相关发展

HashKey, a Hong Kong-based digital asset management company, has recently signed a Memorandum of Understanding (MOU) with multiple crypto exchanges to provide insurance against cyberattacks and theft.

总部位于香港的数字资产管理公司 HashKey 最近与多家加密货币交易所签署了一份谅解备忘录 (MOU)，以提供针对网络攻击和盗窃的保险。