Home / MARKETS / Binance Amasses $18,960,943,364 in Bitcoin and Ethereum Holdings on Behalf of Crypto Traders
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Binance Amasses $18,960,943,364 in Bitcoin and Ethereum Holdings on Behalf of Crypto Traders

Binance is a huge login password exchange by volume, which means that foreign exchange traders have nearly $19 billion in BTC and ETH holdings using the login passwords on its platform.

Binance released a stock confirmation report on Tuesday, showing that the exchange now has login passwords worth more than $63 billion in 24 different digital currencies.

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User assets "are often pledged at 1:1, plus additional risk reserves," Binance said.

Elaborated on the sale.

Binance's inventory confirms that the system software was released at the end of 2022, as part of a more comprehensive effort to give users a little bit higher resolution, the system uses Merkle trees to add chain data information, so that users can be carefree, and their property is stored by us for them at 1:1.

In February 2023, we carried out an important upgrade to our POR system software and implemented ZK-snarks, which is a zero-knowledge agreement that enhances the privacy and security of user databases in the authentication process.

Binance's reserves contain a value of more than $12.07 billion, 556020.95 BTC and a value of more than $6.88 billion, 4473172.88 ETH. The required reserve ratio for Bitcoin is 101.53 and that for Yi Tai Fong is 101.61.

The exchange also upgraded the reserve verification system software to prove the reserves of 11 tokens in addition to the 13 tokens that have already been confirmed.

At the time of writing, Bitcoin is worth $21782, down more than 2.1% in the past 24 hours. ETH shares, which are trading at $1543, have fallen 1.6 per cent in the past day.


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