Binance provides 11 tokens to PoR, claims $63B in reserves

In line with an announcement on Mar. 7, cryptocurrency trade Binance has added an extra 11 tokens to its proof-of-reserves (PoR) report. These embrace MASK, ENJ, WRX, GRT, CHR, CRV, 1INCH, CVP, HFT, SSV, and DOGE. With the most recent replace, Binance says it now has over $63 billion throughout 24 belongings in its proof-of-reserves system. The most important belongings on the trade embrace (BTC), (ETH), and (USDT), with $12.7 billion, $7.1 billion, and $16.3 billion in internet buyer balances, respectively.

Though exchanges have begun adopting the PoR methodology for better transparency within the wake of cryptocurrency trade FTX’s collapse, consultants have repeatedly warned customers of the constraints of such methodology. These embrace lack of awareness on use of leverage, collateralization, and corresponding proof-of-liabilities and can’t be revealed except accompanying monetary statements complement the PoR.

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