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Binance's Latest Reserve Report: Status of Bitcoin and Other Cryptocurrencies

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by Giorgi Kostiuk

4 hours ago

Binance, the largest cryptocurrency exchange in the world, has published its 32nd reserve report aimed at restoring user trust in exchanges following the bankruptcy of FTX.

Overview of Binance Reserves

This report presents the reserve ratio, with reserves exceeding user assets. Various cryptocurrencies are covered, and the report is published regularly for transparency.

Details of Major Cryptocurrency Reserves

According to the report, reserves for Bitcoin (BTC), USDT, Ethereum (ETH), and BNB show overcollateralization of 102.51%, 101.11%, 100.00%, and 111.79%, respectively.

Changes in User Assets

The latest report indicates that user Bitcoin assets decreased by 3.27%, totaling 573 thousand BTC. Meanwhile, USDT assets increased by 2.64%, reaching 29.59 billion. User BNB assets dropped by 0.54% to 39.64 million, while Ethereum assets fell by 5.34% to 5.051 million.

Binance's reserve report demonstrated its commitment to transparency in asset management, which may help restore user confidence in digital exchanges.

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