COINTURK NEWSCOINTURK NEWSCOINTURK NEWS
  • Real-Time News Feed
  • Bitcoin
  • Altcoin
  • Ethereum
  • Technology News
  • Advertise
  • Contact
  • TURTURTUR
  • ESESES
Search
© 2024 COINTURK NEWS. All Rights Reserved.
Reading: Binance Continues its Growth Despite Challenges: Insight from the Latest Report
Share
Languages
  • TürkçeTürkçe
  • EspañolEspañol
Font ResizerAa
COINTURK NEWSCOINTURK NEWS
Font ResizerAa
Search
  • Real-Time News Feed
  • Bitcoin
  • Altcoin
  • Ethereum
  • Technology News
  • Advertise
  • Contact
  • TURTURTUR
  • ESESES
Follow US
© 2025 BLOCKCHAIN Information Technologies. >> COINTURK NEWS
Powered by LK SOFTWARE
COINTURK NEWS > Binance > Binance Continues its Growth Despite Challenges: Insight from the Latest Report
Binance

Binance Continues its Growth Despite Challenges: Insight from the Latest Report

In Brief

  • The largest cryptocurrency exchange in the world by volume, Binance, has recently published its latest report. The report provides important information about the current sentiment of users. So what does the last report tell us? Are entries into cryptocurrency markets still ongoing? Here are the details.ContentsBinance Reserve ReportIs Binance Safe? Binance Reserve Report After the […]
COINTURK NEWS
COINTURK NEWS 2 years ago
Share
SHARE

The largest cryptocurrency exchange in the world by volume, Binance, has recently published its latest report. The report provides important information about the current sentiment of users. So what does the last report tell us? Are entries into cryptocurrency markets still ongoing? Here are the details.

Contents
Binance Reserve ReportIs Binance Safe?

Binance Reserve Report

After the collapse of the FTX exchange, Binance and others felt the need to take action regarding proof of reserves. FTX, which moved and used customer assets without permission, went bankrupt because it could not adjust the risks it took correctly. Since the money it bankrupted was customer balances, the investors’ perspective on centralized exchanges was negatively affected during this process. Central crypto exchanges also send the message “you are safe” to investors with on-chain reserve proofs to eliminate the emerging mistrust. Binance recently published its eighth regular reserve report.

Binance did not see massive outflows amidst recent lawsuits and FUD. However, it is a fact that customer assets have decreased. A large number of investors preferred to reduce their risk with the US targeting cryptocurrencies.

Is Binance Safe?

If customer assets are kept in exchange wallets at a 1:1 ratio, this situation shows that assets can be withdrawn smoothly in any bank-run. The only easy solution for conversion from fiat money to crypto is to use centralized exchanges. That’s why crypto investors still trade heavily on CEX platforms instead of DeFi.

With a snapshot taken at the beginning of July, Binance published its latest reserve proof certificate. Compared to last month’s report (June 1 report), customer assets decreased noticeably. The summary of the change is as follows;

  • BTC accumulation decreased by 3.6%, 22,000 BTC.
  • ETH accumulation decreased by 4.4%, 192,000 ETH.
  • USDT accumulation decreased by 9.45%.

However, BNB assets of investors increased by 6.6% (1.83 Million BNB). This shows that their customers increased their BNB accumulation during the downturns.

On the other hand, the assets that the exchange has against customer assets seem sufficient. ETH, LTC, and USDC assets are covered by about 101%, while BUSD and BNB assets are 12-13% above the total customer balance.

You see the details of customer and Binance balances in the graphic above, specifically for cryptocurrencies.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

You Might Also Like

Binance Boosts User Experience with Comprehensive Account Management Update

Binance Amplifies Web3 with New Token Generation Events

Binance Spurs a Twist as Doodles Token Value Dips

Binance Supports New AirDrop Initiative!

Binance Schedules Major Maintenance to Ensure Uninterrupted Crypto Experience

COINTURK NEWS 9 July, 2023 - 1:29 pm 9 July, 2023 - 1:29 pm
Share This Article
Facebook Twitter
Share
Previous Article Ethereum Whales Get Caught In The Wave Of AI Investment Interest With InQubeta And The Graph
Next Article Cryptocurrency’s Impact on Low-Income Workers: Opportunities and Risks
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Stay Connected

8.1k Like
21.1k Follow
1.1k Follow

Latest News

U.S. Senate Drives Forward with New Crypto Asset Regulations
Cryptocurrency Law
Ripple’s Legal Twist and Digital Currency Price Insights Rock the Market
Ripple (XRP)
Wisconsin Exits Bitcoin ETF Investments Amid Strategic Realignment
Bitcoin News
SEC Scrutinizes Coinbase: Unexpected Probe Continues
Coinbase
//

COINTURK was launched in March 2014 by a group of technology enthusiasts who believe that Bitcoin will be as important as the internet in the world of the future thanks to the amazing technology underlying it.

CRYPTOCURRENCY LIVE PRICES

  • Bitcoin (BTC) Live Price
  • Ethereum (ETH) Live Price
  • Ripple (XRP) Live Price
  • Solana (SOL) Live Price
  • Dogecoin (DOGE) Live Price
  • Cardano (ADA) Live Price
  • Chainlink (LINK) Live Price

OUR PARTNERS

  • COINMARKETCAP
  • COINGECKO
  • BITCOINHABER
  • BH NEWS
  • 21MILYON
  • NEWSLINKER

OUR COMPANY

  • About Us
  • Cookie Policy
  • Advertising
  • Contact
COINTURK NEWSCOINTURK NEWS
Follow US
© 2025 BLOCKCHAIN Information Technologies. >> COINTURK NEWS
Powered by LK SOFTWARE
Welcome Back!

Sign in to your account

Lost your password?