Binance Proof of Reserves Shows $120B in Assets Across 34 Tokens

Key Points:

• Binance Proof of Reserves reveals over $120 billion in assets, showing notable growth in BTC and ETH holdings.
• Binance’s Bitcoin holdings increased by 2.09%, while Ethereum rose 6.20%, reflecting strong asset backing.

Binance Proof of Reserves reveals $120 billion in assets across 34 tokens, showing growth in BTC and ETH holdings, with Bitcoin up 2.09% and Ethereum up 6.20%.

Binance Proof of Reserves Shows $120 Billion in Assets

Binance published the 24th Proof of Reserves, taken on Nov. 1st, for 34 different tokens, representing more than $120 billion in total assets held on the exchange. Additionally, user BTC holdings reached 608,587 BTC, an increase of 2.09% compared to the previous month. This is also indicative of Binance taking transparency seriously, as Proof of Reserves usage keeps increasing while other exchanges are busy trying to restore confidence to their users.

Ethereum and USDT reserves also posted healthy upticks on Binance’s proof of reserves for the most recent reporting period. ETH user assets are documented at 4,699,518 ETH-up 6.20%, while users are holding 20.85 billion in USDT. This reserve statement reflects complete transparency to users and investors regarding its asset backing, all while working toward financial stability in a turbulent crypto market, according to Binance.

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