Binance maintains steady Ethereum reserves, ramps up Bitcoin holdings
- Binance has come under intense scrutiny over the past week after the CFTC alleged that Binance violated trading and derivatives rules.
- CryptoSlate has taken a deep dive into Binance’s Proof of Reserve (POR). This refers to the on-chain reserves officially disclosed by the exchange.
- Bitcoin reserves increased by almost 70,000 BTC. His ETH balance is almost flat YTD.
- Three major stablecoins have seen their allocations drop at Binance’s POR since the beginning of the year.
- BUSD lost over $6 billion, USDC $600 million and USDT $1.8 billion.
- As the macro environment is expected to face further turmoil, an additional allocation to Bitcoin would be an excellent war game for Binance.
A post about Binance maintaining stable Ethereum reserves and increasing Bitcoin holdings first appeared on CryptoSlate.