How Much of Shiba Inu (SHIB) and Ripple (XRP) Does Binance Hold Now?

[BitTorrent]

How Much of Shiba Inu (SHIB) and ripple (XRP) Does Binance Hold Now?

binance
-SHIB-XRP_CB.jpg” />

TL;DR

• Binance’s latest Proof of Reserve (PoR) report confirms 1:1 coverage of assets of all users with significant holdings in SHIB, BTC, and XRP.
• The PoR system, implemented after the FTX crash, aims to increase transparency and trust by verifying the existence and correct accounting of users’ funds.

The world’s largest cryptocurrency exchange has released its latest Proof of Reserve (PoR) report, showing evidence of 1:1 coverage of all users’ assets.

The data is currently available from Binance. owner A whopping 67.67 trillion shiba inu (SHIB) tokens. Calculated at running rates, the stash equates to almost $2 billion.

The company’s Bitcoin net balance stands at 594,134 BTC (worth approximately $40 billion), while Ripple (XRP) assets exceed 3 billion coins ($1.9 billion).

Similar to Binance, OKX, Kraken and many other cryptocurrency exchanges Crypto.comThe following introduced a PoR system FTX collapse This move aims to rebuild trust within the community, increase transparency and prove that funds held on behalf of users actually exist and are properly accounted for.

“What this means in real terms is that Binance holds all user assets (and some reserves) 1:1, we have zero debt in our capital structure, and we make sure we have an emergency fund (SAFU fund) for extreme needs,” Binance said in its announcement. writes:

Company’s Proof of Reserve verification at startup focused In Bitcoin (BTC) and several other cryptocurrencies. It was later upgraded by adding Shiba Inu (SHIB) and many more altcoins. The last report included 31 tokens.

SPECIAL OFFER (Sponsored)
LIMITED OFFER 2024 for CryptoPotato readers on Bybit: Use this link to sign up for Bybit Exchange for free and open a $500 BTC-USDT position!

#Shiba #Inu #SHIB #Ripple #XRP #Binance #Hold