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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 23rd Report (snapshot date October 1) of its reserves.
Apart from Bitcoin (BTC), the report includes USDT, Ethereum (ETH), BNB, Solana (SOL), FDUSD, XRP, USDC, TUSD, Dogecoin (DOGE), Polygon (MATIC), Polkadot (DOT), Chainlink (LINK), SHIB, Arbitrum (ARB), Litecoin (LTC), Optimisim (OP), Chilliz (CHZ), UNI, Aptos (APT), GRT, SSV, CHR, ENJ, 1INCH, CRV, WRX, MASK, HFT, BUSD and CVP and Pepecoin (PEPE) was featured.
Accordingly, users' Bitcoin assets decreased by 1.58% compared to the previous report to 596 thousand BTC, while USDT assets decreased by 3.16% to 21.4 billion.
It was also seen that users' BNB assets increased by 2.17%, reaching 41.58 million.
Finally, when looking at users' Ethereum assets, it was seen that it decreased by 1.37% to 4.42 million.
Binance’s latest proof of reserves shows that despite the dwindling assets, BTC, USDT, and ETH reserves remain overcollateralized by 106.73%, 111.38%, and 100.57%, respectively.
*This is not investment advice.