Binance launched Proof of Assets last night and announced the cold wallet addresses of six mainstream tokens including BTC, ETH, BSC, BNB, and TRX. CZ promises to complete PoR proof of reserve for all assets as soon as possible, and says they have no debt.
(Review:FTX Lessons” The user asset exchange moved again? CZ: Binance will launch the “PoR Reserve Proof”… Why can it be solved?)
(Additional background:Is FTX saved? Alameda owes FTX $10 billion! SBF seeks 9 billion in exchange support)
addAfter the liquidity crisis broke out on the FTX cryptocurrency exchange, major exchanges jumped out and said they would provide a more detailed “Proof of Assets” or “Proof of Funds PoR” to stabilize investor confidence in assets that have u stored in central institutions. At 8 pm yesterday (10), the official website of Binance, the largest exchange, officially launched the asset certificate page.
At the same time, Binance has first announced the cold wallet addresses of six mainstream tokens such as BTC, ETH, BSC, BNB, TRX, etc., and said that a more detailed audit report will be released in the future to publicize all of it. data for investors:
Our goal is to make better investment decisions by educating users about the status of Binance assets.
Part of # Binance‘ continued commitment to transparency, we share details of our hot and cold wallet addresses.
Stay tuned as we will be publishing evidence of Merkle tree money within the next few weeks.
More details here ⤵️
— Binance (@binance) November 10, 2022
Details of assets currently held, and promise to complete the audit as soon as possible
According to CZ’s earlier tweet, including the cold wallet address issued by Binance, the current total real holdings of Binance are about 475,000 BTC, 4.8 million $ETH, 17.6 billion $USDT, 21.7 billion $BUSD, 6 100 million $USD and 58 million $BNB.
This is while we wait for the test of reserves to finish. Stay on a vendor that everyone uses. But it seems it could take weeks, we might try to find someone else.
— CZ ???? Binance (@cz_binance) November 10, 2022
Additionally, CZ represents a more sophisticated hash tree in order to complete the next step faster (Merkle Tree）Proof of PoR Funds, Binance is considering finding other auditors:
We are currently waiting for the “Proof of Funds” to be fully completed, waiting for a trusted auditor, but it seems this process will take several weeks and may I would consider looking for someone else.
In view of Binance’s quick response, most of the community gave positive comments. And when someone asked about Binance’s debt, CZ even said oppressively: “We don’t have any debt.”
We have no debt.
— CZ ???? Binance (@cz_binance) November 10, 2022
????Related reports????
FTX Partial Withdrawal Mystery “Because the government of the Bahamas has announced to freeze FTX assets! Has started processing withdrawals from users in this country
Confessions of FTX Workers: We’ve Lost Our Life Savings
SBF lost contact, official FTX website offline! The legal team has resigned collectively; Alameda’s official website and Twitter have been cleared
Heavy!Binance: FTX Acquisition Abandoned, User Funding Issues Out of Range; Crash Crypto
Expecting to flee FTX? Justin Sun promises 1:1 acceptance of TRON tokens, with a 6% premium for TRX and HT
