Bitfinex’s reserves are 91% Bitcoin, Ethereum

by Cryptospacey

In line with information shared by crypto influencer John Brown, 91% of Bitfinex alternate’s reserves are Bitcoin (BTC) and Ethereum (ETH).

Coinbase follows Bitfinex as a detailed second by having 63% of its reserves in Bitcoin and Ethereum, in response to extra data added by Brown.

Crypto.com comes because the third alternate with essentially the most vital Ethereum and Bitcoin percentages at 52%.

Main alternate Binance is positioned on the backside of the checklist by having solely 15% of its reserves consisting of Bitcoin or Ethereum.

Proof of reserves

Upon the FTX collapse, Binance CEO Changpeng Zhao steered that every one exchanges publish their proof-of-reserves. Many exchanges adopted Zhao’s recommendation and printed their paperwork, together with Bitfinex, Crypto.com, Binance, OKX, and Coinbase.

In line with its proof-of-reserves, Bitfinex holds round 207,356.67967717 Bitcoins and 1,225.600 Ethereums.

Crypto.com’s 52% equates to 53,024 Bitcoins and 391,564 Ethereum, in response to its proof of reserves. The alternate additionally said that its Bitcoin and Ethereum are value round $3 billion when mixed with Crypto.com’s different holdings.

Binance additionally printed its proof of funds on Nov. 11. The alternate disclosed that it held round $69 billion value of digital belongings. It additionally detailed that it had 475,000 Bitcoin and 4.8 million Ethereum, which consists of solely 15% of the alternate’s reserves. Binance additionally holds 58 million BNB and 17.6 billion USDT, amongst others.

OKX and Coinbase, then again, revealed that they again all their customers’ belongings at 1:1 by actual funds.



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