Binance, the world’s largest cryptocurrency exchange, announced the proof-of-reserve system to regain the decreasing trust in Bitcoin exchanges after the sudden bankruptcy of FTX.
In this context, Binance, which publishes reserve reports at regular intervals, has published the 28th Report (snapshot date March 1) of its reserves.
According to Binance’s official website, the reserve ratio (Binance holdings to user assets) for major cryptocurrencies is overcollateralized. Additionally, the altcoin TRUMP has just been added to the exchange’s Proof of Reserves report with a reserve ratio of 100.38%.
Apart from Bitcoin (BTC), the report includes USDT, Ethereum (ETH), BNB, Solana (SOL), FDUSD, ENJ, 1INCH, CRV, MASK, HFT, BUSD, BOME, Hedera (HBAR), Pepecoin (PEPE), SUI, WIF and TRUMP were featured.
Binance’s latest proof of reserves shows that BTC, USDT, ETH, and BNB reserves are overcollateralized by 100.77%; 104.42%; 100.00% and 110.92% respectively.
*This is not investment advice.
