Binance, the world’s largest cryptocurrency exchange, announced the proof-of-reserve system to regain the decreasing trust in Bitcoin exchanges after the sudden bankruptcy of FTX.
In this context, Binance, which publishes reserve reports at regular intervals, has published the 31st Report (snapshot date June 1) of its reserves.
According to Binance’s official website, the reserve ratio (Binance holdings divided by user assets) for major cryptocurrencies is overcollateralized.
Apart from Bitcoin (BTC), the report includes USDT, Ethereum (ETH), BNB, Solana (SOL), FDUSD, ENJ, 1INCH, CRV, MASK, HFT, BUSD, BOME, FORM, Hedera (HBAR), NEAR, Pepecoin (PEPE), S, SUI, WIF and TRUMP were featured.
Binance’s latest proof of reserves shows that BTC, USDT, ETH, and BNB reserves are overcollateralized by 102.13%; 101.52%; 100.00% and 111.74% respectively.
According to the latest report, users’ Bitcoin assets decreased by 1.82% compared to the previous report, falling to 593 thousand BTC; while USDT assets decreased by 0.77%, falling to 28.83 billion.
Users’ BNB assets also increased by 1.56% to 39.85 million.
Finally, when looking at users’ Ethereum assets, it was seen that it increased by 1.05% to 5.33 million.
*This is not investment advice.
