The world’s largest cryptocurrency exchange Binance has published its latest reserve proof report.
Cryptocurrency exchange Binance shared its 16th reserve proof (PoR) report on March 1st. The shared data revealed a decrease in Bitcoin (BTC) and Ethereum (ETH) balances on the exchange.
Over the past month, the Bitcoin assets on the exchange decreased by 31,998 BTC to 562,000 BTC. During the same period, there was a 180,000 ETH decrease in Ethereum assets, bringing the current balance to 3.98 million ETH.
On the other hand, there was an increase in Tether (USDT) and Binance Coin (BNB) assets. In the 1-month period from February to March, USDT assets increased by $1.7 billion to $19.52 billion. BNB assets increased by 1.1 million, with the current balance shared as 32.940 million.
The exchange emphasized that all Bitcoin and Ethereum assets are secured by over 100%.
Cryptocurrency exchanges publish reserve proof to demonstrate their ability to match users’ assets 1:1. This has gained importance, especially after the insolvency of cryptocurrency exchange FTX misusing users’ funds. The report shared by Binance does not reflect the company’s assets.
