Binance Reveals How Much BTC, ETH it Stores Following FTX Collapse

Binance has shared a partial list of the cryptocurrency it stores and will release a full proof-of-reserve in the coming weeks.

Changpeng Zhao tweeted earlier this week that every exchange should do proof-of-reserves and stressed on the importance of transparency.a list of the major cryptocurrencies that it holds, including a set of addresses where the tokens are stored.Other major holdings include approximately 17.6 billion USDT, 21.7 billion BUSD, 601 million USDC, as well as some 58 million BNB tokens.

This is a starting point while we work to create a Merke tree POF that we will share with the community in the next few weeks. The move comes amid a major setback for the entire cryptocurrency industry as FTX revealed a multi-billion hole in its balance sheet after reportedly misappropriating users’ funds.

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