Binance has released the addresses of its hot and cold wallets. It provided a snapshot of its current holdings. The announcement follows moves to reassure customers by other exchanges in the wake of FTX’s liquidity crisis.
The world’s largest cryptocurrency exchange, Binance, has released the addresses of its hot and cold wallets and will share details about its financial situation.
The move is part of Binance’s ongoing commitment to transparency and fostering trust in the ecosystem.
It provided a snapshot of its current holdings that include about 475,000 Bitcoin, 4.8 million Ether, 17.6 billion USDT, 21.7 billion BUSD, 601 million USDC, and 58 million BNB. Its Secure Asset Fund for Users, which it created in 2018 as an emergency insurance fund to protect users, holds a further $1 billion.
The announcement follows moves to reassure customers by other exchanges in the wake of FTX’s liquidity crisis. Binance itself backed out of acquiring the struggling company after reviewing its financials. Binance CEO Changpeng CZ Zhao said the company would start a Proof of Reserves audit system accessible to the public.
