Binance disclosed information on its reserves in cryptocurrency

crypto wallets binanceFor the past few days, the crypto market has been very hard going through the situation of a possible bankruptcy of the second largest crypto exchange FTX.com. Due to speculation with the native token of the FTT exchange, the entire crypto market enters the “perfect storm” stage, when investors and traders lose confidence in all crypto exchanges and crypto currencies and tokens. As a result, not only the FTT token loses its value, but also such crypto leaders as Bitcoin, Ethereum and USDT. If for Bitcoin and Ethereum a price decrease is a normal phenomenon, then USDT decoupling from the price of 1 USD tells us that the current crypto crisis can collapse the entire crypto market several times and for a long time due to a complete loss of confidence in the cryptocurrency industry. In order to somehow reduce the degree of heat and stop the withdrawal of capital from crypto assets, the largest exchange Binance officially publishes its reserves in cryptocurrencies with confirming links to addresses that anyone can see.

Binance crypto exchange assets in Bitcoin, Ethereum, USDT, BUSD, BNB as of November 10, 2022:

BTC(~475K BTC) 

ETH(~4.8M ETH) 

USDT(~17.6B USDT) 

BUSD(~21.7B BUSD)

USDC(~601M USDC)

BNB(~58M BNB). 

To confirm their words, Binance also provides links to all its crypto wallets:

         

Coin

Network

Address

Balance

Height

BTC

BTC

252,597

762465

BTC

BTC

125,351

762465

BTC

BTC

61,472

762465

BTC

BTC

36,447

762493

ETH

ETH

1,996,008

15934489

ETH

ETH

1,904,674

15935584

ETH

ETH

10,000

15934492

ETH

ETH

616,398

15935898

ETH

ETH

82,750

15935898

ETH

ETH

70,901

15935898

ETH

ETH

67,302

15935898

ETH

ETH

58,592

15935898

ETH

ETH

42,545

15935898

USDC

ETH

549,565

15934499

USDC

ETH

309,503,197

15935895

USDC

ETH

115,246,732

15935875

USDC

ETH

69,926,385

15935892

USDC

TRX

106,432,612

45818787

USDT

ETH

1,250,000,115

15934495

USDT

ETH

600,000,000

15934505

USDT

ETH

526,422

15934499

USDT

ETH

809,939,998

15935898

USDT

ETH

74,178,945

15935898

USDT

ETH

61,296,558

15935898

USDT

ETH

54,695,297

15935898

USDT

ETH

49,650,585

15935898

USDT

ETH

51,261

15934488

USDT

TRX

7,000,000,109

45813062

USDT

TRX

5,751,361,898

45813071

USDT

TRX

1,507,320,720

45818805

USDT

TRX

122,016,648

45818805

USDT

TRX

109,925,232

45818805

USDT

TRX

104,906,164

45818805

USDT

TRX

84,048,608

45818805

USDT

TRX

78,960,494

45818805

BUSD

ETH

14,596,049,087

15934505

BUSD

ETH

5,325,500,000

15934494

BUSD

ETH

1,000,000,000

15934488

BUSD

ETH

548,682,788

15934492

BUSD

ETH

1,092,140

15934499

BUSD

ETH

96,848,328

15935881

BUSD

ETH

95,222,884

15935898

BUSD

ETH

49,824,173

15935895

BNB

BEP2

29,888,000

277428134

BNB

BEP2

4,000,000

277428522

BNB

BEP2

2,014,620

277428615

BNB

BEP2

200,000

277428636

BNB

BEP2

283,852

277467847

BNB

BEP2

111,091

275014385

BNB

BEP2

16,387

277467430

BNB

BEP2

13,897

272331028

BNB

BEP2

13,893

272331009

BNB

BEP2

13,890

272330993

BNB

BEP2

13,890

272331006

BNB

BEP2

13,889

272331005

BNB

BEP2

13,889

272331018

BNB

BEP2

13,889

272330988

BNB

BEP2

13,888

272331007

BNB

BEP2

13,888

272331002

BNB

BEP2

13,888

272331000

BNB

BEP2

13,888

272330991

BNB

BEP2

13,888

276952310

BNB

BEP2

13,888

272331019

BNB

BEP2

13,888

272330983

BNB

BEP2

13,888

272330981

BNB

BEP2

13,888

272330998

BNB

BEP2

13,888

272330994

BNB

BEP2

9,462

277467430

BNB

BEP20

4,784,753

22914769

BNB

BEP20

10,000

22914767

BNB

BEP20

7,000

22914765

BNB

BEP20

117,238

22920346

BNB

BEP20

113,924

22920346

BNB

BEP20

107,470

22920346

BNB

BEP20

102,739

22920346

BNB

BEP20

92,016

22920346

BNB

BEP20

46,058

22920346

BNB

BEP20

41,152

22920346

BNB

BEP20

24,725

22920346

BNB

BEP20

6,473

22920346

BNB

BEP20

6,412

22920346

BNB

BEP20

6,403

22920346

BNB

BEP20

6,148

22920346

BNB

BEP20

6,141

22920346

BNB

ETH

8,623,840

15934488

BNB

ETH

7,483,842

15935511

In addition, Binance Exchange has a $1 billion SAFU (Disaster Insurance Fund).

Such reporting from the market leader, first of all, influenced the mood of investors, where a protracted decline was replaced by growth. But, most importantly, such openness made it clear to investors that the situation with FTX is a special case, and not a global problem for the industry. The second positive dynamics from this report is statements from other exchanges to provide similar reports, which will undoubtedly only affect the entire crypto market in a positive way. And exchanges that refuse to publish such reports will automatically remain the losers. As a result, even if FTX goes bankrupt now with further blocking of traders’ assets for an indefinite period like MtGOX, we will still end up with a more open and honest crypto industry.