Reserves for ether and stablecoins are down 6% and 15%, respectively.ĬryptoQuant points out that Binance differs from FTX-Alameda in how "clean" the reserves are, or, to put it another way, how they're not reliant on the exchange’s proprietary token, BNB. In a tweet, Binance CEO Changpeng "CZ" Zhao said he “welcomes the stress test.”īinance’s bitcoin reserves are up 4% since FTX's collapse, CryptoQuant wrote. While withdrawals have increased, they are small compared with the exchange’s overall reserves. Collateralization is 101% when taking the exchange's assets and debtors into account, it said.īinance is not experiencing the same volume of outflows that FTX had in the days before its collapse, CryptoQuant wrote, citing on-chain data. ![]() We can see that CryptoQuant data covered 99% of Binance's liabilities,” CryptoQuant wrote, using the ticker symbol for bitcoin. This compares to the PoR report’s Customer Liability Report Balance of 597,602 BTC. ![]() “At the time Binance’s Proof of Reserves report was conducted, CryptoQuant’s estimate of Binance’s BTC reserves (liabilities) was 591,939 BTC. ![]() The Seoul-based analytics firm points to on-chain data to support claims made in a recent audit that Binance is overcollateralized. Binance, the largest crypto exchange by volume traded, is not the next FTX, according a report from CryptoQuant.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |