Binance holds $74.7 billion worth of tokens of which around 40% are in its own stablecoin and native coin, according data shared by Nansen.
The world’s largest exchange released the information after its co-founder Changpeng Zhao announced earlier this week that Binance would provide proof-of-reserves to be more transparent. The demise of Sam Bankman-Fried’s FTX.com has raised concerns over the opacity of exchange balance sheets and is prompting companies to increase disclosures. Crypto.com has also publicly shared its reserves pool on Friday.

The exchange has also allocated 10.5% of its holdings in Bitcoin and 9.8% in Ether, Nansen data shows.

While Binance shared details of its reserves, the dashboard does not break down how much of the assets are its own holdings, versus those of its customers. Binance did not respond to requests for comment.

@leanleft
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2unu monato

uncertain if they would use those tokens as collateral

陆船。
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1unu monato

Are their stablecoins even backed by anything? Like isn’t that the whole issue with Tether? It’s 1:1 but the USD side of the 1:1 is missing.

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