Summary
- Binance updated its Proof of Reserves data as of March 1st, stating that the reserve ratios for major cryptocurrencies all recorded over 100%.
- This announcement is expected to enhance the exchange's credibility regarding user assets.
- Donald Trump's memecoin OfficialTrump has been added to Binance's reserve list, with its reserve ratio tallied at 100.38%.
Global cryptocurrency exchange Binance has released new Proof of Reserves (PoR) data.
On the 7th, Binance updated its Proof of Reserves data as of the 1st of this month through its official website. The reserve ratios for major cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) were all reported to be over 100%. The reserve ratio represents the proportion of cryptocurrencies held by the exchange relative to user assets.
Meanwhile, OfficialTrump (TRUMP), the memecoin of U.S. President Donald Trump, has been added to Binance's Proof of Reserves data. OfficialTrump's reserve ratio recorded 100.38% as of the 1st of this month.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
