Huobi, the Seychelles-based crypto exchange, recently became the latest digital asset exchange platform to reveal the number as well as the value of its digital assets held in reserves. Huobi has said disclosing the assets held in reserves helps to boost users’ confidence in the exchange as well as to improve transparency.
Huobi’s ‘Inexhaustive Overview’
The Seychelles-based cryptocurrency exchange, Huobi, became the latest digital asset exchange to attempt to assuage users’ anxieties when it unveiled its so-called “proof of reserves” on Nov. 12. As shown in Huobi’s “inexhaustive overview” of digital assets held, the crypto exchange had about 32,000 BTC, 274,000 ETH, and 820 million USDT stablecoins, as well as 9.7 billion TRX tokens.
In addition to disclosing the U.S. dollar value of digital assets held — $3.5 billion — Huobi also shared a snapshot of the list of addresses where the funds are being kept. Huobi’s revelation of digital asset holdings came just
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