CandleFocus Binance Releases New Proof of Reserves! Here Are the Amounts of Bitcoin, Ethereum and Altcoin in Hand!
2024-10-08
Author: Content Editor
The world's largest cryptocurrency exchange, Binance, has announced a proof-of-reserve system to address decreasing trust in Bitcoin exchanges following the bankruptcy of FTX. Binance has published its 23rd reserve report, which includes reserves of various cryptocurrencies such as Bitcoin, USDT, Ethereum, BNB, Solana, and many others. The report highlights a decrease in users' Bitcoin and USDT assets but an increase in BNB assets. Ethereum assets also decreased. Despite these fluctuations, Binance's latest proof of reserves shows that BTC, USDT, and ETH reserves remain overcollateralized.
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