Binance’s Proof of Reserves: A Look at DOGE, SHIB, and XRP Holdings

Binance, a prominent cryptocurrency exchange, has released its Proof of Reserves (PoR), providing insights into its holdings of popular digital assets, including Dogecoin (DOGE), Shiba Inu (SHIB), and XRP.

Bitcoin and Ethereum Holdings

Binance’s Bitcoin (BTC) ratio stands at 102.49%, with a total of 609,477.128 BTC in its treasury and a customer net balance of 594,688.859 BTC, valued at over $27.4 billion.

Ethereum (ETH) exhibits a ratio of 104.58%, with Binance holding approximately 4,353,718.384 ETH in net balance and a total customer net balance of 4,163,085.942 ETH, valued at more than $10.1 billion.

DOGE and SHIB Holdings

Dogecoin (DOGE) boasts a ratio of 100.65%, with a treasury of about 12,202,610,586.421 DOGE and a customer net balance of 12,124,403,806.92 DOGE, valued at over $977 million.

Shiba Inu (SHIB) maintains a ratio of 103.64%, with a Binance net balance of 69,431,545,051,732.125 SHIB, and a total customer net balance of 66,995,801,414,557.41 SHIB, surpassing a valuation of more than $626 million.

XRP and SOL Holdings

XRP maintains a ratio of 101.14%, with a total customer net balance of 2,761,728,028.243, valued at over $1.4 billion.

Solana (SOL) exhibits a ratio of 102.16%, with a total customer net balance of 29,139,907.185, worth over $3 billion.

Binance’s Commitment to Transparency

Binance’s Proof of Reserve audit showcases its dedication to transparency and its substantial presence in the global cryptocurrency market. The exchange utilizes an advanced cryptographic tool, the Merkle Tree, enabling users to verify their asset holdings on the platform through their Merkle hash or record IDs.