Binance bought USDC for BTC and ETH after Silvergate Financial institution collapse: PoR report

Cryptocurrency alternate Binance launched its newest proof-of-reserves (PoRs) on Aug. 1, providing transparency into its crypto reserves. Nevertheless, the motion of its (USDC) reserves on the time of Silvergte’s collapse caught many individuals’s consideration and have become a subject of dialogue on X (previously Twitter).

The most recent reserve audit suggests Binance holds greater than sufficient crypto and money to cowl consumer funds. The ratio of Binance’s web balances to its clients’ web balances is greater than 100% for all its belongings as proven within the snapshot under.

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