Binance, the world's largest cryptocurrency exchange, announced the proof-of-reserve system to restore the declining trust in Bitcoin exchanges after the sudden bankruptcy of FTX. Binance, which publishes reserve reports at regular intervals in this context, has published the 34th Report (snapshot date September 1) of its reserves. According to Binance's official website, the reserve ratio (Binance's holdings divided by user assets) for major cryptocurrencies is overcollateralized. In the report, Binance, apart from Bitcoin (BTC), includes USDT, Ethereum (ETH), BNB, Solana (SOL), FDUSD, CHR, ENJ, 1INCH, CRV, MASK, HFT, BUSD, AAVE, BOME, Ethena (ENA), FORM, Hedera (HBAR), NEAR, EPNDLE, Pepecoin (PEPE), S, SUI, WIF and TRUMP were featured. Binance’s latest proof of reserves shows that BTC, USDT, ETH, and BNB reserves are overcollateralized by 103.5%, 103.14%, 100.00%, and 112.5%, respectively. According to the latest report, users' Bitcoin holdings increased by 2.85% compared to the previous report, reaching 608,017, while their USDT holdings increased by 4.6%, reaching 31.25 billion. Users' BNB holdings decreased by 1.2% to 39.3 million. Finally, when looking at users' Ethereum assets, it was seen that they decreased by 4.7% and fell to 4.34 million. *This is not investment advice. Continue Reading: Binance Releases Latest Report for Bitcoin, Ethereum, XRP, and 38 Altcoins! Here's What You Need to Know…
