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Binance has just released its 19th Proof of Reserve, showcasing its commitment to transparency and user security. This means they've demonstrated evidence of holding assets equivalent to all user holdings, ensuring a 1:1 coverage. When a user deposits one Bitcoin, Binance increases its reserves by at least one Bitcoin, safeguarding customer funds. Notably, this doesn't include the exchange's corporate assets, kept separately.

In their latest report, as of June 1, 2024, Binance users held 582,000 BTC, up by 534 BTC from the previous month, and 4.664 million ETH, an increase of 305,000 ETH. However, USDT holdings decreased to 22.08 billion USDT. Binance's current asset reserves stand at $124.69 billion, with a net outflow of $1.54 billion last month. This assurance extends to other cryptocurrencies as well.

Binance emphasizes maintaining a 1:1 ratio of user assets to reserves, zero debt in their capital structure, and an emergency fund (SAFU fund) for contingencies. Their 11th Proof of Reserve audit confirms that assets are more than 100% secure, ensuring enough reserves to cover all customer withdrawals, with additional reserves for emergencies. #BnbAth #Binance #StartInvestingInCrypto