- A list of Binance’s latest holdings and cold wallet transactions has been revealed.
- The total market value of the reserves reported was about $69 billion.
- The crypto community responded to Binance with mostly positive reactions.
A day after pulling out of a deal to acquire insolvent cryptocurrency exchange FTX, Binance published a list of its cold wallet and recent holdings. Based on current market prices, the total market value of the reserves reported was about $69 billion.
According to the cryptocurrency exchange, it currently has about 475,000 bitcoin ($7.8 billion), and 4.8 million ether ($5.57 billion). It also has 17.6 billion USDT ($17.4 billion), and 601 million USDC ($607 million). Further, nearly 21.7 billion of its own stablecoin BUSD (worth $21.9 billion) and 58 million of its BNB tokens ($16 billion).
Additionally, $1 billion is kept in its Secure Asset Fund for Consumers. This was reportedly established in 2018 as an emergency insurance fund to safeguard users.
Subsequently, the crypto community on Twitter has responded to a Binance tweet with mostly positive reactions, applauding CZ for his action. One user said, “all cryptocurrency firms should have a Secure Asset Fund for Users (SAFU) just like Binance.”
A snapshot of the hot and cold wallet addresses taken around November 10, 2022, at 12:00 am UTC was also included in the statement.
This is a starting point while we work to create a Merkle tree POF that we will share with the community in the next few weeks. Our objective is to allow users of our platform to be aware and make informed decisions that are aligned with their financial goals. – The company said.
It is crucial to remember Merkle Trees are a method for more effectively and securely encoding blockchain data.
Transparency was used as the final term in the most recent CZ tweets that also mentioned Binance’s SAFU.
