Changpeng Zhao tweeted earlier this week that every exchange should implement Proof of Reserve (PoR) and emphasized the importance of transparency.
Binance has now shared a list of the major cryptocurrencies it holds, including a set of addresses where the tokens are stored.
- The leading crypto exchange hosts a whopping 475,000 BTC and around 4.8 million ETH .
- Other large holdings include about 17.6 billion USDT , 21.7 billion BUSD , 601 million USDC , as well as about 58 million BNB .
- In an announcement from earlier today, the company detailed:
As part of Binance’s ongoing commitment to transparency and increasing trust in the ecosystem, we are sharing insights into our hot and Cold Wallet addresses.
This is a starting point as we work to create a POF Merke Tree that we will be sharing with the community over the next few weeks.
- The move comes as the entire crypto industry is struggling as FTX faces a liquidity crunch.
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