Shiba

Reserve

April

Shiba Inu

<a href="https://bitcoinist.com/binance-latest-reserve-report/">Binance</a>, the world’s largest cryptocurrency exchange, has released its latest <a href="https://www.newsbtc.com/news/binance-upgrades-proof-of-reserves-verification-for-better-user-privacy/" rel="nofollow noopener" target="_blank">Proof of Reserve (PoR)</a> report, displaying trillions of Shiba Inu tokens held by users on the exchange.&nbsp; 
<h2 id="binance-holds-over-67-trillion-shiba-inu-tokens">Binance Holds Over 67 Trillion Shiba Inu Tokens</h2> 
On Monday, April 1, Binance <a href="https://www.binance.com/en-GB/proof-of-reserves" rel="nofollow noopener" target="_blank">published</a> its 17th proof of reserve report. The exchange revealed a ratio of over 100% between the net balances of all of its digital assets and customer net balance.&nbsp; 
The ratio of <a href="https://bitcoinist.com/binance-meme-shiba-inu-dogecoin/">Shiba Inu native token SHIB</a> was approximately 103.60%, highlighting the exchange’s commitment to safeguarding users’ assets by collateralizing them at a 1:1 ratio. 
As disclosed by the report, Binance currently holds about 65,321,321,452,095.36 (65.3 trillion) SHIB tokens in its customer net balance, while Binance’s net balance boasts a reserve of 67,670,462,296,521 (67.6 trillion) SHIB.&nbsp; 
With the <a href="https://www.newsbtc.com/shiba-inu/shiba-inu-shib-price-recover/" rel="nofollow noopener" target="_blank">price of Shiba Inu</a> trading around $0.0000276 at the time of writing and reflecting a steep decrease of 5.83%, this puts users’ Shiba Inu deposits at a value of more than $1.8 billion. Alternatively, Binance’s total SHIB reserves are worth over $1.86 billion. 
In contrast to its <a href="https://bitcoinist.com/binance-doge-shib-xrp-holds/">SHIB reserve in February</a>, the amount of SHIB tokens in Binance’s latest report has slightly reduced, suggesting that investors may have potentially liquidated a small portion of their holdings. Around February and March 2024, the <a href="https://bitcoinist.com/shiba-inu-surge-in-interest/">interest and hype surrounding Shiba Inu peaked</a>, prompting numerous investors to invest in the doggy-themed meme coin. Fueled by the increasing demand, the cryptocurrency had recorded double-digit gains and became one of the <a href="https://www.newsbtc.com/shiba-inu/shiba-inu-takes-over-the-internet-google-searches-climb-as-global-interest-surges/" rel="nofollow noopener" target="_blank">most searched crypto assets on Google</a>.&nbsp; 
<h2 id="proof-of-reserve-shows-100-backed-assets">Proof Of Reserve Shows 100% Backed Assets</h2> 
Binance’s regular release of its proof of research report is a way of <a href="https://bitcoinist.com/binance-launches-proof-of-reserves-system/">maintaining transparency</a> and accountability for its users. The exchange has revealed that its proof of reserves encompasses all of the assets it holds in custody for users.&nbsp; 
Moreover, Binance has stated that its <a href="https://bitcoinist.com/binance-new-proof-of-reserves/">digital assets are 100% fully backed</a>, ensuring that client’s funds are safe and well collateralized. Binance uses a unique strategy to ensure all user assets in its reserve are protected.&nbsp; 
The exchange has provided funds to cover all users’ assets in a ratio of 1:1, as well as some reserves. This essentially means that the exchange’s net balance would always exceed its customer’s net balance. In addition, when a user deposits one Bitcoin or 1,000 <a href="https://www.newsbtc.com/shiba-inu/shiba-inu-shib-price-major-breakout/" rel="nofollow noopener" target="_blank">Shiba Inu tokens</a>, Binance’s reserves increase by at least one BTC or 1,000 SHIB.&nbsp; 
Binance also revealed that it always keeps emergency funds (SAFU funds) for extreme cases. This is to ensure the <a href="https://bitcoinist.com/bitcoin-ripe-rally-exchange-liquidity-fast-dropping/">exchange’s liquidity management</a> and mitigate losses from market volatility.&nbsp;&nbsp; 
Additionally, the exchange disclosed that it currently <a href="https://bitcoinist.com/binance-has-no-debt/">has zero debt</a> in its capital structure, utilizing the Merkle Tree feature to allow users to verify their assets to confirm that their funds are backed 100% and are held in a 1:1 ratio. 
<img loading="lazy" decoding="async" class="aligncenter size-medium" src="https://www.tradingview.com/x/SCbUFh5T/" alt="Shiba Inu price chart from Tradingview.com" width="3286" height="1530">

Binance Reveals Substantial Shiba Inu Holdings In Latest Proof Of Reserves Report

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