Binance, the world's largest cryptocurrency exchange, announced the proof-of-reserve system to regain the decreasing trust in Bitcoin exchanges after the sudden bankruptcy of FTX. In this context, Binance, which publishes reserve reports at regular intervals, has published the 32nd Report (snapshot date July 1) of its reserves. According to Binance’s official website, the reserve ratio (Binance holdings divided by user assets) for major cryptocurrencies is overcollateralized. Apart from Bitcoin (BTC), the report includes USDT, Ethereum (ETH), BNB, Solana (SOL), FDUSD, ENJ, 1INCH, CRV, MASK, HFT, BUSD, BOME, Ethena (ENA), FORM, Hedera (HBAR), NEAR, 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 102.51%; 101.11%; 100.00% and 111.79% respectively. According to the latest report, users' Bitcoin assets decreased by 3.27% compared to the previous report, falling to 573 thousand BTC; while USDT assets increased by 2.64%, reaching 29.59 billion. It was also seen that users' BNB assets decreased by 0.54% to 39.64 million. Finally, when looking at users' Ethereum assets, it was seen that it decreased by 5.34% and fell to 5.051 million. *This is not investment advice. Continue Reading: Binance Releases Latest Reserve Report for Bitcoin, Ethereum, XRP and 36 Altcoins: How Much of Each Altcoin Do You Have?
