Ethereum

Reserve

Coin

Binance, the world's leading cryptocurrency exchange renowned for its high trading volume, has taken a proactive step towards transparency by releasing its August 2023 reserve report.   
This report sheds light on the exchange's substantial holdings of digital assets and its robust reserves-to-customer-balance ratio.   
Unveiling Binance's Reserves and Ratio   
The August 2023 reserve report from Binance underscores the exchange's commitment to accountability and customer trust.   
The central focus of this disclosure lies in the exchange's ability to cover customer deposits with a significant margin of reserves.   
The reserve ratio, a crucial metric in this context, is derived by dividing Binance's net balance – the aggregate of coins held by Binance – by the customer net balance – the total coins deposited by customers.   
Robust Reserves Ensuring Customer Confidence   
The heartening revelation from Binance's report is that the exchange boasts reserves more than sufficient to safeguard the interests of its customers.   
A reserve ratio of 100% signifies parity between Binance's holdings and customer deposits, thus ensuring a rock-solid foundation. Impressively, Binance surpasses this benchmark across a range of cryptocurrencies, with some ratios exceeding 100%.   
Analyzing Binance's Published Figures   
<ol>  
 <li>BTC: Bitcoin, the pioneering cryptocurrency, enjoys a reserve ratio of 105.61%. Binance's customer net balances for BTC stand at a substantial 588,622,989, whereas its net balances soar to 621,631,928.</li>   
 <li>ETH: Ethereum (ETH) boasts a reserve ratio of 102.71%. With customer net balances reaching 4,068,826,253 ETH, Binance's net balances surge ahead to 4,179,054,896 ETH.</li>   
 <li>BNB: Binance Coin (BNB) stands out with an impressive reserve ratio of 113.85%. Customers have entrusted Binance with 29,282,440,447 BNB, while Binance holds an even more substantial 33,339,317.22 BNB.</li>   
 <li>USDT and BUSD: Stablecoins USDT and BUSD each maintain a healthy reserve ratio of 117.99% and 117.90% respectively. Customers' USDT net balances extend to 15,280,149,773,177, while Binance's reserves climb to 18,028,511,181,839. Similarly, for BUSD, customer net balances tally at 1,838,334,069,651, while Binance's holdings rise to 2,167,374,260,094.</li>   
 <li>USDC: USDC maintains a reserve ratio of 101.62%, with customer net balances of 829,610,613,236, and Binance net balances of 843,044,142,792.</li>  
</ol>  
The post <a rel="noopener noreferrer nofollow" href="https://optimisus.com/news/crypto-news/binances-august-2023-reserve-report-a-deep-dive-into-crypto-holdings/">Binance’s August 2023 Reserve Report: A Deep Dive into Crypto Holdings</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://optimisus.com">Optimisus</a>.

Binance’s August 2023 Reserve Report: A Deep Dive into Crypto Holdings

Optimisus

2023년 8월 7일에 게재된 다른 기사

Huobi en crise : Dirigeants arrêtés, faillite en vue ?

Energy Transfer Stock: Will ET Stock bounce back from $12.00?

Influencer Sues Bitget Over ReelStar Token Listing Controversy

PayPal ventures into stablecoins with launch of PYUSD

Tether Releases Bitcoin Mining Software

Ethereum holds above $1.8k, whale activity drops

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!