Binance's latest Proof-of-Reserves (PoR) report shows that it has enough XRP to cover customer balances. XRP customer net balances are equivalent to more than 2.7 billion tokens (more than $1.5 billion at current rates). In comparison, the exchange's net balances stand at 2.8 billion assets, giving a ratio of 104.26%.📊

The PoR system demonstrates Binance's commitment to transparency and financial integrity and guarantees that all customer funds are fully backed. This is especially important considering the bankruptcies of some leading crypto exchanges such as FTX.🔒

Binance's Bitcoin and Ethereum net balances also have positive rates of 103.79% and 106.56% respectively. Other crypto exchanges that publish similar reports include Crypto.com, Kraken, OKX, and more.