Following the sudden collapse of FTX, prominent cryptocurrency exchanges have continued to publish proof of their reserves to provide more transparency into their crypto holdings.

Binance, the world’s largest crypto exchange by trading volume, has finally burned its monthly portion of Terra Classic (LUNC) via the famous 0.2% burn tax.

Another multi-million dollar hack has hit the decentralized finance space. The latest victim is BNB Chain-based DeFi protocol – Ankr. Initial reports suggest that a vulnerability in its code that enabled unlimited minting of tokens was exploited.

Terra Classic (LUNC) has surged by 15% in 24 hours, with its market cap reclaiming the $1B zone following Binance’s latest monthly burn.

Binance Labs has made a strategic investment in Ambit Finance to accelerate the development of trustless DeFi within the BNB Chain ecosystem.

The corresponding BNB tokens will be deducted from your already-locked BNB balance within 60 minutes of this announcement.

According to <a href="https://twitter.com/lars0x">Lars</a>, research director of&nbsp; The Block,&nbsp;Binance takes up to 75.1% market share, Coinbase at 9.2%, Kraken at 3.6%, and FTX at 3.1%.

Patrick Hillman, chief strategy officer of Binance, said the company may not exist in 10 years because the crypto market it is moving toward decentralized finance (<a href="https://www.coindesk.com/learn/what-is-defi/" target="_blank">DeFi</a>).

The world’s largest <a href="https://coingape.com/glossary/crypto-exchange-2" target="_blank">crypto exchange</a> Binance has burned over 6 billion Terra Classic (LUNC) tokens in the 6th batch of the LUNC burn mechanism. With the latest burn, Binance has burned almost 20 billion LUNC tokens in total from trading fees on LUNC spot and margin trading pairs. As a result, the Terra Classic price jumps nearly 2% in the last 24 hours.

Cryptocurrency exchange Binance is working with accounting firm Mazars as part of its proof-of-reserve (PoR) audits triggered by the fall of FTX.