Binance’s Bitcoin User Balance at 605,636.567 BTC, ETH at 4,711,979.871

• Binance holds 605,636.567 BTC in user balance, up by 4.01%.
• The exchange’s net user balance of Ether currently stands at 4,711,979.871, up 1.01%.
• The customer net balance of USDT is 21,519,835,921.785, down by 2.54%.

Binance, the largest cryptocurrency exchange by trading volume, released its 20th Proof of Reserves, revealing the company’s asset reserves changes in July.

Wu Blockchain, a crypto reporting platform run by Chinese journalist Colin Wu on X, has shared insights on Binance’s post, noting customer net balances of top cryptocurrencies like BTC, ETH, and USDT.

Binance released the 20th proof of reserves (July 1). User BTC assets are 605,637, up 4.01% from June 1. User ETH assets are 4.711 million, up 1.01%. User USDT assets are 21.51 billion, down 2.54%.https://t.co/jGCPnwd2PR pic.twitter.com/JUCIRcCBLe

— Wu Blockchain (@WuBlockchain) July 6, 2024

By releasing the Proof of Reserves, Binance intends to acknowledge the assets that they hold in custody for users. The platform wrote, “We are showing evidence and proof that Binance has funds that cover all of our users assets 1:1, as well as some reserves.”

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