Binance moved $8 billion off its proof-of-reserves
According to new research, Binance might have sold, invested, or reallocated up to $8 billion of its $14 billion corporate reserves last month. The massive quantities of crypto were listed as excess collateral on Binance’s December proof-of-reserves — above the 100% guarantee on customer holdings — but had disappeared as of February 1. At the end of January, Binance reported 2,746 bitcoin (BTC), 275,725,782 tether (USDT), 174 ether (ETH), 4,869,719 BNB, and 4,179 solana (SOL) in non-customer net balances. Those figures are drastically lower than its December 2024 snapshot: 46,896 BTC, 2,989,902,855 USDT, 216,312 ETH, 5,839,372 BNB, and 442,234 SOL. Charts of these corporate assets show Binance’s non-customer holdings cratering to near two-year lows. The USD value of the decline tallies north of $8 billion. Binance's new Proof of Reserves Data is wild. Binance sold ALOT of it's Corporate Assets in January: – Binance sold almost all its 4 Bi...