Binance’s October Proof of Reserves Reveals Surplus Holdings
- Binance holds over 100% of user deposits for all major assets.
- Bitcoin reserves show a surplus, with an excess of approximately 21,000 BTC.
- Surpluses include 103% for Bitcoin, 112% for BNB, and 102% for XRP.
- Major stablecoins such as USDT, FDUSD, and USDC are backed at 106%, 125%, and 148%, respectively.
- Ethereum and Solana holdings are fully backed at a conservative rate of 100%.
The latest audit by Binance underscores its commitment to maintaining surplus reserves across major cryptocurrencies like Bitcoin and stablecoins while ensuring full backing for Ethereum and Solana.
Source (3.2)https://cryptobriefing.com/binance-proof-of-reserves-october-2023-21000-btc/?rand=59535
