Buy Биткоин BTC
Bitcoin (BTC)
Buy Эфир ETH
Ethereum (ETH)
Buy Ripple XRP
Ripple (XRP)
Buy Tron TRX
Tron (TRX)
Buy Polygon Matik
Polygon (MATIC)
Buy Solana SOL
Solana (SOL)
Buy Dogecoin DOGE
Dogecoin (DOGE)
Buy Avalanche AVAX
Avalanche (AVAX)
Buy Cardano ADA
Cardano (ADA)
Buy Polkadot DOT
Polkadot (DOT)
Buy Syscoin SYS
Syscoin (SYS)
Make crypto bots for trading

Crypto exchange Binance has published another report on reserves

Market and Events: Crypto exchange Binance has published another report on reserves

Binance has recently completed another audit of the reserves held on its platform. As of 7 February 2024, the trading platform controls 609,477 BTC and 4.35 million ETH.

Binance customers, on the other hand, hold 594,688 BTC and 4.16 million ETH. This means that the safety of customer funds in bitcoin and Ethereum is 102.49% and 104.58% respectively.

Crypto exchange Binance has published another report on reserves
The security of customer funds. Source: Binance.

The safety of customer funds in #USDT stablecoin exceeds 120%, while funds in #BNB tokens are 104.3% secured. Also worth noting is the high level of asset security in #USDC steiblcoins, which exceeds 149% according to Binance's report.

Compared to the January report, there is a significant decrease in client funds held in BUSD stablecoins. Meanwhile, Binance's own collateral in this asset reached 587%.

Recall that in December, Binance removed BUSD from its platform and urged users to convert it to other assets.

In addition, the exchange has TUSD and FDUSD stablecoins on its balance sheet, with reserves of 112% and 113%, respectively.

Proof of Reserves refers to information about the custody of client assets. Binance first introduced this concept in November 2022, following the FTX bankruptcy, to demonstrate its ability to fulfil customer withdrawal requests.

In February 2023, Binance released an update to the Proof of Reserves system, making the audit process more efficient and transparent.

Share this news and win 10 USDT with daily contest on CryptoFingers Telegram.
Press Releases: Celebrates 11th Anniversary with Prize Activities and Vision for the Future, a leading crypto exchange and Web3 innovator, has announced its 11th-anniversary celebrations, showcasing its milestones and launching prize-winning activities for its global user..
Press Releases: Happening Right Now - Marginly is Bootstrapping Liquidity
Marginly, the leverage-as-a-service protocol that enables one-click leverage on yield-bearing assets, kicked off its Liquidity Bootstrap Event on May 15. The protocol is rewarding..
Altcoins: The founder of Telegram commented on the launch of the Notcoin token
Pavel Durov, the creator of the Telegram messaging platform, shared his thoughts on the introduction of the Notcoin (NOT) cryptocurrency. He emphasized that the initiative has attracted more..
Regulation: The French regulator announced a possible blocking of the Bybit platform
The French financial markets regulator (AMF) has issued a warning to investors about the possible restriction of access to the Bybit platform's website. It also noted that..