Binance XRP Holdings Up Over 100 mn; Exchange Now Holds 2.8 bn XRP
The world’s largest cryptocurrency exchange, according to trade volume, Binance, has 2.8 billion XRP in reserves, while its users own 2.7 billion XRP.
The biggest cryptocurrency exchange in the world, Binance, has released its most recent Proof of Reserves (PoR) report, revealing its cryptocurrency holdings.
Binance’s updated PoR report indicates that the leading exchange holds a significant amount of XRP. The exchange’s net balance is around 2.8 billion XRP, while its customers hold a combined 2.7 billion XRP. This suggests that Binance holds a slightly larger amount of XRP than its users, with a ratio of 103.5%. This decision demonstrates Binance’s ability to guarantee liquidity and manage risk, and confirms that the exchange has sufficient funds to cover its users’ XRP balance on a 1:1 basis.
(With inputs from Shikha Singh)
You need to login in order to Like
