Ethereum

Bitcoin

Monero

Read

<div class="cryptonews"> 
 <p class="is-style-lead">In Binance’s 10th proof-of-Reserves (POR), Ethereum (ETH) <a rel="noopener noreferrer nofollow" title="holdings" href="https://thebittimes.com/tag/holdings.html">holdings</a> decreased, while Bitcoin (BTC) and Tether (USDT) remained stable or slightly increased.</p> 
 <p>Binance published its 10th POR amid liquidity concerns, offering the public a look into the state of customer assets and <a rel="noopener noreferrer nofollow" title="holdings" href="https://thebittimes.com/tag/holdings.html">holdings</a>. </p> 
 <p>The disclosure reveals mixed trends: Bitcoin and Tether deposits have stayed steady or slightly grown, but Ethereum <a rel="noopener noreferrer nofollow" title="holdings" href="https://thebittimes.com/tag/holdings.html">holdings</a> have dropped by 4.3%.</p> 
 <p>Key figures from Binance’s reserves&nbsp;showed that Bitcoin deposits stood at around 588,000 BTC while there was approximately 3.89 million ETH, down 4.3%. Meanwhile, the exchange held $15.44 billion of USDT, up 1%.</p> 
 <figure class="wp-block-image size-large is-resized"> 
  <img decoding="async" src="https://cdn.thebittimes.com/images/2023/09/08/58380abff56351292d47edfec8421762.webp" alt="Binance proof of reserves" class="wp-image-14192663" style="width: 100%;height:578px" width="1020" height="578"> 
 </figure> 
 <p>The latest POR revealed that Binance held 4.71 million ETH and 276,215 BTC in cold storage.</p> 
 <p>These figures complement the user deposits, which stood at 1.18 million ETH and 311,821 BTC on the BNB Chain. </p> 
 <p>Meanwhile, Binance held $13.6 billion of USDT, juxtaposed with users’ $1.86 billion on BNB Chain.</p> 
 <p>While Bitcoin deposits remained relatively stable, there was a 4.3% decrease in Ethereum assets and a 1% increase in USDT <a rel="noopener noreferrer nofollow" title="holdings" href="https://thebittimes.com/tag/holdings.html">holdings</a>. This suggests changing user sentiment, possibly influenced by market conditions or perceptions of asset stability.</p> 
 <div class="cn-block-related-link"> 
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"> <use xlink:href="#"></use> 
  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> Binance will reportedly delist Monero and privacy coins in Belgium 
 </div> 
 <p>For the past month, there have been growing concerns about Binance’s market position. </p> 
 <p>Sudden exits of several high-profile executives, regulatory pressure, the discontinuation of BUSD, and partnership termination from VISA and Mastercard, caused jitters.</p> 
 <figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
  <div class="wp-block-embed__wrapper"> 
   <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
    <p lang="en" dir="ltr">Some of our team members are growing into bigger roles, some outside of #Binance. Some are doing new exciting ventures. I even made intros/references for many of them. We are supportive of everyone. We are one community.<br><br>This also creates more growth opportunities within…</p>— CZ Binance (@cz_binance) September 6, 2023 
   </blockquote> 
  </div> 
 </figure> 
 <p>Binance’s POR not only ensures its financial strength but also provides insights into asset allocation trends among its large user base. </p> 
 <p>This release highlights Binance’s dedication to asset security and transparency, serving as a means to confirm that it has enough reserves to safeguard customer <a rel="noopener noreferrer nofollow" title="holdings" href="https://thebittimes.com/tag/holdings.html">holdings</a>, enhancing its credibility in a competitive and frequently unstable market.</p> 
 <div class="cn-block-related-link"> 
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"> <use xlink:href="#"></use> 
  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> Crypto whales shuffle millions via Binance amid regulatory scrutiny 
 </div> <span class="google-news-banner__label">Follow Us on Google News</span> 
</div> 
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/binance-por-ethereum-holdings-declined-while-bitcoin-and-usdt-steadied-tbt61972.html">https://thebittimes.com/binance-por-ethereum-holdings-declined-while-bitcoin-and-usdt-steadied-tbt61972.html</a></p>

Binance POR: Ethereum holdings declined while Bitcoin and USDT steadied

TheBitTimes

Other articles published on Sep 7, 2023

SEC’s Enforcement Action Against NFTs Could Hurt the Industry

Ripple CTO Confirms Ripple Will Announce IPO, SEC Settlement at NYC Party

Bitcoin Network Faced Unexpected and Unusual Issue

Vitalik Proposes New Privacy Protocol that can Live with Regulation

Step App August Recap: Our largest campaign, Magic Store validation and more!

Israel Ringkus Pelaku Crypto Scam, Kerugian Mencapai Jutaan Dolar

Join our free newsletter for daily crypto updates!