Binance discloses details of its cryptocurrency reserves
A page listing the exchange’s cryptocurrency reserves has appeared on Binance’s website. The company did not make an official announcement, so the list of assets presented may be incomplete.
Binance поделилась информацией о балансах горячих и холодных кошельков платформы. Согласно анонсу, биржа удерживает:
- 475,000 BTC;
- 4,800,000 ETH;
- 17,600,000,000 USDT;
- 21,700,000,000 BUSD;
- 601,000,000 USDC;
- 58,000,000 BNB.
The figures diverge from those presented on the page that appeared on the platform’s site earlier. ForkLog has contacted Binance with a corresponding request and will update the piece when it receives a reply.
In a thread by Nansen co-founder Alex Svanevik, the platform’s CEO Changpeng Zhao said that the service is still under development. It is likely that it appeared in open access by mistake.
To my knowledge, we haven’t launched the feature yet. Still in dev. Where did you see this? 😂
— CZ 🔶 Binance (@cz_binance) November 10, 2022
Earlier Zhao stated, that cryptocurrency exchanges should adhere to a transparent approach regarding their reserves, and Binance will be open on this issue.
According to the platform’s site, it holds 247,700 BTC (~$4.06 billion at the rate at the time of writing). These assets include native Bitcoin and wrapped tokens of the ERC-20, BEP-2 and BEP-20 standards.
The value of Ethereum on the exchange’s wallets is estimated at $3.9 billion, and the combined holdings of stablecoins USDT, BUSD and USDC exceed $19 billion.
In the wake of turmoil in the market following FTX’s insolvency, Binance increased the SAFU fund to about $1 billion.
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