In line with information shared by crypto influencer John Brown, 91% of Bitfinex change’s reserves are Bitcoin (BTC) and Ethereum (ETH).
Coinbase follows Bitfinex as an in depth second by having 63% of its reserves in Bitcoin and Ethereum, in response to further data added by Brown.
— John Brown (@john_j_brown) November 21, 2022
Crypto.com comes because the third change with probably the most vital Ethereum and Bitcoin percentages at 52%.
Main change Binance is positioned on the backside of the record by having solely 15% of its reserves consisting of Bitcoin or Ethereum.
Proof of reserves
Upon the FTX collapse, Binance CEO Changpeng Zhao prompt that every one exchanges publish their proof-of-reserves. Many exchanges adopted Zhao’s recommendation and revealed their paperwork, together with Bitfinex, Crypto.com, Binance, OKX, and Coinbase.
In line with its proof-of-reserves, Bitfinex holds round 207,356.67967717 Bitcoins and 1,225.600 Ethereums.
Crypto.com’s 52% equates to 53,024 Bitcoins and 391,564 Ethereum, in response to its proof of reserves. The change additionally acknowledged that its Bitcoin and Ethereum are price round $3 billion when mixed with Crypto.com’s different holdings.
Binance additionally revealed its proof of funds on Nov. 11. The change disclosed that it held round $69 billion price of digital belongings. It additionally detailed that it had 475,000 Bitcoin and 4.8 million Ethereum, which consists of solely 15% of the change’s reserves. Binance additionally holds 58 million BNB and 17.6 billion USDT, amongst others.
OKX and Coinbase, then again, revealed that they again all their customers’ belongings at 1:1 by actual funds.