Binance has completed a major upgrade of its Proof of Reserves system, announced on November 14, allowing users to independently verify that the exchange holds enough assets to cover their balances. Snapshots were published for six cryptocurrencies: Bitcoin, Ethereum, Tether, BNB, Solana and USDC. Bitcoin reserves stand at 100.05%, with about 688,283 BTC compared with 687,912 BTC in net user balances; the reported ratios for Ethereum, BNB and USDC are 100.02%, 100.39% and 100.07%, respectively. The disclosure covers all assets affected by the recent cyberattack, whose withdrawals are being progressively restored, and applies to assets held by Binance on behalf of users rather than its entire corporate holdings.
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