The ramifications from the collapse of the crypto exchange FTX this week have influenced Binance CEO CZ’s decision to publish hot and cold wallet addresses and balances for its top six coins. Transparency to the moon, it appears!
Binance has released one of its initial lists while developing a Merkle tree POF that will be shared in the coming weeks. The crypto exchange has approximately:
- 475,000 bitcoin ($7.8 billion),
- 4.8 million ether ($5.57 billion),
- 17.6 billion USDT ($17.4 billion),
- 601 million USDC ($607 million),
- 21.7 billion BUSD (worth $21.9 billion) and
- 58 million BNB tokens (worth $16 billion).
Based on market value, the listed reserves had a total market value of around $69 billion.
Also Read: Binance to Sell Majority of Gopax Shares to Address Governance Concerns
Binance wants to reassure customers that it has sufficient reserves by committing to openness about them. According to CZ, this data was already available, but it is now easier to read and access.
