In response to the collapse of FTX, Binance, the world’s largest cryptocurrency exchange, has released details of its cold wallet reserves, disclosing proof of digital asset holdings worth more than $69 billion.
Binance Publishes Proof of Reserves
On Thursday, November 10th, Changpeng “CZ” Zhao, the Founder and CEO of Binance, announced that his exchange remains committed to transparency, especially in light of the liquidity crunch faced by beleaguered crypto exchange FTX.
In accordance with its resolve to provide full transparency, Binance has published its Proof of Reserves, disclosing the cold wallet addresses and balances of the top six cryptos listed on the exchange.
As of November 10th, Binance held 475,000 BTC, 4.8 million Ether, 17.6 billion USDT, 601 million USDC, 58 million BNB. and approximately 21.7 billion of its own stablecoin, BUSD. The total reserves held by Binance, as of Thursday, stand at an approximate worth of $69 billion.
Binance Lead
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