Binance, the world’s leading cryptocurrency exchange, recently Announced an important milestone: exceeding $100 billion in user funds. This achievement is the first since the implementation of test reserve disclosures in November 2022.
Binance, the world’s leading cryptocurrency exchange, recently Announced an important milestone: exceeding $100 billion in user funds. This achievement is the first since the implementation of test reserve disclosures in November 2022.
A breakdown of the funds reveals that Bitcoin is the dominant asset, with more than 562 million BTC held by the exchange’s users. Binance maintains a coverage ratio of 103.16%, highlighting its commitment to guaranteeing the security and integrity of users’ assets. Other prominent cryptocurrencies such as USDT, Ethereum (ETH), and BNB also contribute substantially to the platform’s asset pool.
Among the holdings, Shiba Inu (SHIB) stands out, whose users entrust approximately $1.9 billion in cryptocurrencies to Binance. This reflects the growing popularity of SHIB and its integration into the diverse Binance ecosystem.
Too big to fail?
Binance’s achievement of surpassing $100 billion in user funds reaffirms its position as a key player in the cryptocurrency industry. With a focus on transparency, security, and innovation, the exchange continues to attract users around the world.
At the same time, as its platform grows, Binance is also attracting more and more attention from regulators. Recall that in February of this year the court approved a plea agreement for the stock exchange, according to which it must pay a fine of 4.3 billion dollars. As part of the agreement, the company must monitor compliance through an independent firm for five years.
Meanwhile, US prosecutors have asked that the former Binance CEO remain in the country until his sentencing hearing on April 30.
