Binance Maintains Steady Ethereum Reserves, Ramps Up Bitcoin Holdings

Binance has been under heavy scrutiny for the past week since the CFTC claimed that Binance had breached its trading and derivatives rules.

CryptoSlate did a deep dive into Binance’s proof of reserves (POR), which refers to the on-chain reserves officially disclosed by exchanges.

Bitcoin reserves have increased by almost 70,000 BTC; the ETH balance is fairly flat YTD.

The three main stablecoins have seen a reduced allocation on Binance’s POR since the start of the year.

BUSD has dropped by over $6 billion, USDC has dropped by 600 million, and USDT has dropped by 1.8 billion.

(by James Van Straten)

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