• Binance launches proof-of-reserves system for BTC holdings

    8 days ago - By Tech Crunch

    Cryptocurrency exchange company Binance has released a new site that explains its proof-of-reserves system. The company is starting with BTC reserves. Right now, Binance has a reserve ratio of 101%. It means that the company has enough bitcoins to cover all users' balances.
    This move comes a couple of weeks after the collapse of FTX , another popular crypto exchange. In FTX's case, the company faced a liquidity crisis. It stopped processing withdrawals because it couldn't meet demand from investors and end users.
    Crypto companies - and crypto exchanges in particular - have been trying to...
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