Binance Proof-of-Reserves (PoR) Report Shows It Holds 62.8 Trillion SHIB and 2.95 Billion XRP Tokens
- PHPzOriginal
- 2024-08-07 21:33:13289browse
The world's largest cryptocurrency exchange – Binance – is among the many releasing Proof-of-Reserves (PoR) reports to display evidence
Binance Holdings Revealed: SHIB, XRP, BTC, and ETH Balances Disclosed
Binance, the world's leading cryptocurrency exchange, has released its latest Proof-of-Reserves (PoR) report, revealing its holdings in various crypto assets. The report showcases the exchange's reserves to back up users' assets 1:1, enabling withdrawals on demand.
The report unveils that Binance holds an impressive 62.8 trillion Shiba Inu (SHIB) tokens, boasting a 102.57% reserve ratio. This marks a slight decrease from the 62.95 trillion coins held during the previous announcement in early July.
Moreover, the exchange's Ripple (XRP) holdings also remain substantial. Binance currently holds around 2.95 billion XRP tokens, indicating a 2.8% increase compared to July's figures. Calculated at current rates, the stash is valued at over $1.5 billion.
The exchange's Bitcoin (BTC) balances stand at more than 645,000 BTC (around $36.8 billion) with a ratio of 106.56%, while its Ethereum (ETH) holdings are 4.85 million (around $12.2 billion).
In total, the PoR system discloses Binance's user funds reserves in 31 different digital assets, expanding significantly from the initial 9 cryptocurrencies supported in 2022. Some of those added in the past year include Dogecoin (DOGE), The Graph (GRT), Enjin Coin (ENJ), Chromia (CHR), Hashflow (HFT), and others.
It's important to note that Binance's Proof-of-Reserves report does not include corporate holdings, which are maintained on a separate ledger.
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