Leading cryptocurrency exchange Binance has released an updated report on its Proof-of-Reserves (PoR) system. According to the report in question, the exchange currently holds 78.5 trillion Shiba Inu (SHIB) tokens and 2.7 billion XRP. The exchange’s PoR system was recently expanded to include 11 more tokens, bringing the total number of verifiable assets to 24.
The 11 new tokens added to the Binance Proof-of-Reserves (PoR) system are as follows: MASK, ENJ, WRX, GRT, CHR, CRV, 1INCH, CVP, HFT, SSV and DOGE. With the addition of these crypto-assets, the total estimated value of all assets that can be verified in the platform’s Proof-of-Reserves system has now exceeded $63 billion.
Last year’s FTX crash triggered great fear in the crypto industry and caused investors to flee. Binance, the world’s largest cryptocurrency exchange, could not escape this fear and panic. As a matter of fact, after all the events that took place, the stock market brought the system called “proof of reserve (PoR)” together with us and invited other companies to take action. The main purpose of this move by Binance is to gain the trust of customers.
It is worth noting that the giant crypto exchange integrated zk-SNARK into its Proof of Reserve system last month to increase transparency regarding the amount of balance customers hold in their reserves.
You can follow the current price action here.
Source : the crypto basic