Binance, the world’s largest cryptocurrency exchange, has kept its promise. The exchange shared detailed information about its reserves in hot and cold wallets.
Binance has kept its promise of transparency and shared the details of all the reserves in its hot and cold wallets. These disclosed data, Binance CEO Changpeng Zhao (CZ) in the coming days Merkle Tree It was launched as the first step in his preparation for the presentation of his report.
In addition to the detailed wallet information shared on the official site of the exchange, the following statement was made:
As part of Binance’s ongoing commitment to increasing transparency and trust in the ecosystem, we share details of our hot and cold wallet addresses. Our goal is to ensure that the users of our platform are aware and make informed decisions that are aligned with their financial goals.
According to the shared detailed wallet information, Binance has it 475,000 Bitcoins (BTC), 4.8 million Ethereum (ETH), $17.6 billion USDT, $21.7 billion BUSD, $601 million USDC and 58 million Binance Coins (BNB) exists. by Binance 10 November The information shared as a result of the snapshot taken on date is up-to-date and represents the current total reserves of the stock market.
According to the announced Binance data, the stock’s reserves are evenly distributed over many different crypto assets. Also, approximately 40 billion dollars in stablecoin reserves It gave confidence to investors.
Alamedamost of its balance sheet FTX native token of the exchange from FTTs The collapse that started after the published report that it was formed has pushed the crypto money market to be more transparent. Binance CEO CZ announced that all cryptocurrency exchanges should make proof of reserve and said that he would take the first step in this direction and reveal all the reserves of the exchange. CZ’s proposal also received support from many leading cryptocurrency exchanges.