Cryptocurrency

Bitfinex’s reserves are 91% Bitcoin, Ethereum

Hull Invest

According to data shared by crypto influencers John Brown91% of the Bitfinex exchange reserves are Bitcoin (BTC) and Ethereum (ETH).

According to additional information Brown added, Coinbase holds 63% of its reserves in Bitcoin and Ethereum, a close second behind Bitfinex.

Crypto.com is the third exchange with the highest Ethereum to Bitcoin ratio of 52%.

Major exchange Binance sits at the bottom of the list as it has only 15% of its reserves composed of Bitcoin or Ethereum.

proof of reserves

Following the collapse of FTX, Binance CEO Changpeng Zhao has proposed that all exchanges publish proof of their reserves. Many exchanges, including Bitfinex, Crypto.com, Binance, OKX and Coinbase, have followed Zhao’s advice and published their documents.

Bitfinex, according to reserve proof hold About 207,356.67967717 Bitcoin and 1,225.600 Ethereum.

Crypto.com’s 52% equates to 53,024 Bitcoin and 391,564 Ethereum. proof of reservesThe exchange also said Bitcoin and Ethereum, combined with Crypto.com’s other holdings, are worth around $3 billion.

binance too It was published Proof of funds on November 11th. The exchange has revealed that it holds about $69 billion worth of digital assets. He also detailed that there are 475,000 Bitcoin and 4.8 million Ethereum, which is only 15% of the exchange’s reserves. Binance also holds 58 million BNB and 17.6 billion USDT, among others.

OKX When coin baseon the other hand, revealed that it backs up all user assets 1:1 with real funds.

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