The world’s largest cryptocurrency exchange, Binance, kept its promise of transparency and shared the first data on its Proof of Reserves. The stock market included the total value of its Bitcoin (BTC) assets in its first records of its reserves.
Binance, of FTX keeping one more of its commitments to transparency after its bankruptcy shared the first data on proof of reserve. In this transparent data, which can be confirmed on the blockchain, the net of the stock market bitcoin amount declared. It was stated that in the coming weeks, other tokens owned by the stock market will be announced within the same system.
In this first data presented by the exchange, they currently have 582 thousand Bitcoins exist and their 575 thousand belong to users was informed that. Screenshot of bitcoin reserve 22 November at 02:59 CEST was also included among the information shared. Ratio of reserves to user assets by data 101% specified as.
Many exchanges have previously participated in this transparency flow initiated by Binance and announced the net worth of their assets. However, it provides data on crypto markets. CoinMarketCap recently introduced a feature called proof of reserve.