In response to information shared by crypto influencer John Brown, 91% of Bitfinex alternate’s reserves are Bitcoin (BTC) and Ethereum (ETH).
Coinbase follows Bitfinex as an in depth second by having 63% of its reserves in Bitcoin and Ethereum, in keeping with extra info added by Brown.
The ratio of reserves held in BTC & ETH differs strongly per alternate.
(Knowledge from @cryptoquant_com) pic.twitter.com/UwxRrS5Ltc— John Brown (@john_j_brown) November 21, 2022
Crypto.com comes because the third alternate with probably the most vital Ethereum and Bitcoin percentages at 52%.
Main alternate Binance is positioned on the backside of the checklist by having solely 15% of its reserves consisting of Bitcoin or Ethereum.
Proof of reserves
Upon the FTX collapse, Binance CEO Changpeng Zhao steered that each one exchanges publish their proof-of-reserves. Many exchanges adopted Zhao’s recommendation and revealed their paperwork, together with Bitfinex, Crypto.com, Binance, OKX, and Coinbase.
In response to its proof-of-reserves, Bitfinex holds round 207,356.67967717 Bitcoins and 1,225.600 Ethereums.
Crypto.com’s 52% equates to 53,024 Bitcoins and 391,564 Ethereum, in keeping with its proof of reserves. The alternate additionally said that its Bitcoin and Ethereum are value round $3 billion when mixed with Crypto.com’s different holdings.
Binance additionally revealed its proof of funds on Nov. 11. The alternate disclosed that it held round $69 billion value of digital property. It additionally detailed that it had 475,000 Bitcoin and 4.8 million Ethereum, which consists of solely 15% of the alternate’s reserves. Binance additionally holds 58 million BNB and 17.6 billion USDT, amongst others.
OKX and Coinbase, then again, revealed that they again all their customers’ property at 1:1 by actual funds.
