Uphold, a digital financial services platform based in New York, has released its Proof-of-Reserves, showing that it holds an impressive amount of Shiba Inu tokens in its reserve. The current exchange rate of $0.00001132 means that Uphold holds 921.09 billion SHIB in its wallet. Moreover, data from Uphold indicates that Shiba Inu's transaction volume currently stands at 0.19%. It is also reported that the trading platform is overcollateralized with a ratio of 100.9%.

A number of other crypto-related platforms also released their respective Proof-of-Reserves to provide complete transparency when it comes to holding reserves. Binance's updated report shows that the exchange has 78.5 trillion SHIB in its account. Crypto.com further stated that SHIB accounts for 18% of its reserve, thus making it their third-largest crypto holding. Additionally, KuCoin, Huobi and Bybit reported holding 4.43T, 1.85T and 366.68B SHIB in their reserves, respectively. India's largest crypto exchange WazirX meanwhile revealed a holding of 6.09 trillion SHIB.

The need for complete transparency has become more pressing in the recent times following the collapse of FTX and Silicon Valley Bank. Although Uphold might not be the only platform to release its PoR, it is one of the leading financial services platforms in the industry. Accordingly, its PoR statement suggests that its transparency remains intact, strengthening user trust and reliability.



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