Binance disclosed information about the exchange’s cryptocurrency reserves
On the site of Binance appeared a page with a list of cryptocurrency reserves exchange. The company has not made an official announcement, so the list of presented assets may be incomplete.
Binance shared information about the balances of hot and cold wallets of the platform. According to the announcement, the exchange holds:
- 475,000. BTC;
- 4.8 million ETH;
- 17.6 billion USDT;
- 21.7 billion BUSD;
- 601 million USDC;
- 58 million BNB.
These values differ from those presented on the page that appeared on the platform’s website earlier. ForkLog has reached out to Binance with a request and will update the story when it receives a response.
In a track by Nansens co-founder Alex Swanewick, platform head Changpeng Zhao revealed that the service is still in development. It probably appeared in the public domain 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
Zhao said earlier that cryptocurrency exchanges should be transparent about their reserves, and Binance will be open about it.
According to the platform’s website, it holds 247,700. BTC (~$4.06 billion at the time of writing). These assets include native bitcoin and wrapped tokens of the ERC-20, BEP-2 and BEP-20 standards.
Ethereum is valued at $3.9 billion on the exchange’s wallets, with the combined volume of USDT, BUSD and USDC stackcoins exceeding $19 billion.
Recall that amidst FTX insolvency-induced market turbulence, Binance increased its SAFU fund to ~$1 billion.
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