Cryptocurrency exchange Binance reports on how much cryptocurrency is stored on the platform

Binance, the world’s largest exchange, has disclosed details about its reserves as FUD (fear, uncertainty, and doubt) spreads through the crypto community over the FTX bankruptcy. As of November 10, the market value of all digital assets held by Binance is about $ 71 billion, including

• 475,000 BTC
• 4.8 million ETH
• 17.6 billion USDT
• 21.7 billion BUSD
• 601 million USDC
• 58 million BNB

«This list includes only the major tokens on the BTC, ETH, BSC, BNB, and TRX networks. This is not a complete set of data, which will be provided later in a full audited report. Also, as part of Binance’s ongoing commitment to transparency and building trust in the ecosystem, we are sharing details of our hot and cold wallet addresses,» the exchange representatives wrote on the official Binance website.

Binance representatives also announced the replenishment of its SAFU insurance fund, created in 2018 to protect Binance users in extreme situations. «The insurance fund is $ 1 billion and is just part of our commitment to users to build the safest and fairest blockchain ecosystem in the world,» Binance emphasized.

Just a day after the announcement of the acquisition, Binance refused to acquire FTX. The company stated that it was unable to solve the problems on the platform. «Initially, we hoped to be able to support FTX users and provide the necessary liquidity. However, the exchange’s problems are beyond our control and we are unable to help,» the crypto exchange said in an official statement. Currently, FTX has declared bankruptcy, and its CEO and founder Сем Бенкман-Фрід" href="https://noworries.media/biography/sem-benkman-frid/" data-bio-id="3697">Sam Bankman-Fried has resigned.