Bitcoin
Bitcoin (BTC)
$64,025.00 -0.35205
Bitcoin price
Ethereum
Ethereum (ETH)
$3,436.24 1.11251
Ethereum price
BNB
BNB (BNB)
$572.71 0.45212
BNB price
Solana
Solana (SOL)
$159.48 2.19782
Solana price
XRP
XRP (XRP)
$0.5702880 -9.61981
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000174 -6.63243
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000117 -0.30415
Pepe price
Bonk
Bonk (BONK)
$0.0000270 0.64633
Bonk price
Bitcoin
Bitcoin (BTC)
$64,025.00 -0.35205
Bitcoin price
Ethereum
Ethereum (ETH)
$3,436.24 1.11251
Ethereum price
BNB
BNB (BNB)
$572.71 0.45212
BNB price
Solana
Solana (SOL)
$159.48 2.19782
Solana price
XRP
XRP (XRP)
$0.5702880 -9.61981
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000174 -6.63243
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000117 -0.30415
Pepe price
Bonk
Bonk (BONK)
$0.0000270 0.64633
Bonk price
Bitcoin
Bitcoin (BTC)
$64,025.00 -0.35205
Bitcoin price
Ethereum
Ethereum (ETH)
$3,436.24 1.11251
Ethereum price
BNB
BNB (BNB)
$572.71 0.45212
BNB price
Solana
Solana (SOL)
$159.48 2.19782
Solana price
XRP
XRP (XRP)
$0.5702880 -9.61981
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000174 -6.63243
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000117 -0.30415
Pepe price
Bonk
Bonk (BONK)
$0.0000270 0.64633
Bonk price
Bitcoin
Bitcoin (BTC)
$64,025.00 -0.35205
Bitcoin price
Ethereum
Ethereum (ETH)
$3,436.24 1.11251
Ethereum price
BNB
BNB (BNB)
$572.71 0.45212
BNB price
Solana
Solana (SOL)
$159.48 2.19782
Solana price
XRP
XRP (XRP)
$0.5702880 -9.61981
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000174 -6.63243
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000117 -0.30415
Pepe price
Bonk
Bonk (BONK)
$0.0000270 0.64633
Bonk price

Binance releases proof of reserves, showing 100% backed assets

binance-released-proof-of-reserves-audit-showing-100-backed-assets
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Binance releases proof of reserves, showing 100% backed assets

Cryptocurrency exchange Binance has conducted its twelfth audit of reserves held on the exchange.

Binance has released an audit of its crypto reserves published on Jan. 1, revealing that it controls 597,658.074 Bitcoins (BTC) and 4,265,238.882 Ethereum (ETH). The exchange’s client accounts hold 575,852.891 BTC and 4,002,782.994 ETH. Thus, client funds in Bitcoin and Ethereum are secured by 103.79% and 106.56%, respectively.

Binance releases proof of reserves, showing 100% backed assets - 1

Published on Jan. 8, the report also found that users hold almost 32 million BNB. Client assets in USDT stablecoins reached 16.85 billion, 123.20% backed.

Notably, the client balance in BUSD is secured by 167.91%. In November 2023, the asset’s capitalization decreased to $1.89 billion. According to Binance, the exchange will stop supporting BUSD in 2024.

Proof of reserves is information about the storage of client assets on exchanges. Binance founder Changpeng Zhao announced an audit in November 2022. The crypto exchange introduced this concept after the bankruptcy of FTX to demonstrate its readiness to cover any volume of withdrawal requests.

In February 2023, Binance updated the proof of reserves system to make audits more efficient and transparent. The proof of reserves reports are regularly published by OKX, Bitget, and other exchanges.