Binance, the world’s largest cryptocurrency exchange, has announced a reservation system to regain the decline in trust in the Bitcoin exchange after the sudden bankruptcy of FTX.
In this regard, Binance, which regularly publishes reserve reports, has published its 29th report (snapshot dated April 1st).
According to Binance’s official website, the reserve ratio of major cryptocurrencies (Binance Holdings divided by user assets) is becoming radicalized.
Binance also added to its previous preliminary report, the token of US President Donald Trump, Altcoin Trump.
Apart from Bitcoin (BTC), the reports include USDT, Ethereum (ETH), BNB, Solana (SOL), FDUSD, ENG, CRV, MASK, HFT, BUME, BOME, HEDERA (HBAR).
Therefore, the user’s Bitcoin assets fell to 612,000 BTC, down 2.48% compared to previous reports. USDT assets fell 3.67% to 28.32 billion.
Finally, looking at the users’ Ethereum assets, we saw an ETH of 5.465 million, down 2.71%.
According to the latest report, the exchange sells a large amount of excess cryptocurrency assets. Binance still holds all the assets that users normally own, but according to previous reports, the exchange sells more cryptocurrency than the previous reports, while the new reports appear to sell.
Still, Binance’s latest reserves show that BTC, USDT, ETH and BNB reserves are collateralized at 100.99%. 104.42%; 100.03% and 111.53%, respectively.
You can access Binance’s latest Proof of Reserves reports.
*This is not investment advice.
