Binance Discloses Holdings Data of 6 Coins Totaling Approx $70B

Binance Exchange Declines Request to Fund Struggling Genesis
  • The cryptocurrency exchange will be soon publishing Merkle tree proof of funds.
  • The value of BNB tokens held by the exchange is $16.1 billion.

The cold wallet addresses of Binance, the biggest cryptocurrency exchange in the world, have been made public. Binance’s continuous dedication to openness was highlighted as a reason for the change. However, throughout the next weeks, the cryptocurrency exchange will be publishing Merkle tree proof of funds.

Bitcoin (BTC), Ethereum (ETH), Binance Smart Chain (BSC), Binance Coin (BNB), and Tron (TRX) are among the cryptocurrencies of which Binance has shared data.

Massive Holdings Disclosed

According to the statistics made public by Binance, the exchange is holding a staggering 475,000 Bitcoins (BTC) despite the market’s current downturn. At the time of publication, the average price of bitcoin was $16,623. The value of all of Binance’s Bitcoins is around $7.89 billion.

It has 4.8 million ether (ETH) spread across several wallets. In only 7 days, ETH prices have plunged by 21%. At the time of writing, the average price of Ethereum was $1,204. All of Binance’s Ether is now valued at around $5.79 billion.

Moreover, the cryptocurrency exchange has $17.6 billion in USDT, $21.7 billion in BUSD, and $601 million in USDC. Now, it has more than $40 billion worth of stablecoins in its vaults.

However, there are 58M BNB tokens stored there as well. In the last week, BNB prices have plummeted by a significant 15%. At this moment, the average price is $279. The value of BNB tokens held by the exchange is $16.1 billion.

Soon after releasing this information, Changpeng Zhao (CZ) highlighted that it only pertains to the historical wallet addresses and balances of six from 600 coins. The exchange will publish more data soon.

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An engineering graduate who is passionate about writing and loves the very existence of crypto. Trading forex currency keeps me busy when I am not writing and analysing the crypto world.