ChainCatcher news, Binance's reserve proof system has been released for two years: covering 34 types of tokens, with assets exceeding 120 billion dollars.

ChainCatcher news, Coinbase confirms plans to add verifiable proof of reserves (PoR) for its wrapped Bitcoin token cbBTC to alleviate concerns about Coinbase's lack of transparency.Coinbase's product manager Lukas Staniszewski recently posted on X: "For cbBTC, we planned PoR from the beginning, and the team is working hard to build it."

ChainCatcher news, recently, the digital asset trading platform Hotcoin officially released its proof of reserves report through the well-known cryptocurrency data website CoinMarketCap. The report ensures the transparency and accuracy of reserve information through open-source verification of wallet address ownership and on-chain asset verification.The report shows that the total value of Hotcoin's reserves has reached 29.59 million USD, providing a solid financial guarantee for the platform's operational services. Hotcoin's release of the proof of reserves report aims to further enhance the platform's transparency and strengthen users' confidence in the safety of the platform's funds. Hotcoin promises to regularly release reserve reports in the future, continuously demonstrating its financial strength and robust operational status to global users.

ChainCatcher message, on April 1, Binance released the 17th asset reserve proof, showing that the ratio between the net balance of all digital assets held by the exchange and the net balance of customers exceeds 100%. The proportion of SHIB is approximately 103.60%. According to the report, Binance currently holds about 65,321,321,452,095.36 (65.3 trillion) SHIB tokens in customer net balances, while Binance's net balance has a reserve of 67,670,462,296,521 (67.6 trillion) SHIB. Compared to the SHIB reserves in February, the number of SHIB tokens in Binance's latest report has slightly decreased, indicating that investors may have liquidated a small portion of their held SHIB tokens.

ChainCatcher news, Binance released its proof of reserves for January 2024, with a BTC reserve ratio of 103.79%, a USDT reserve ratio of 123.20%, and a BNB reserve ratio of 106.04%.The data proves that Binance has funds covering all user assets 1:1, along with additional reserves.

ChainCatcher news, according to official sources, the stablecoin TUSD has reached a partnership with the renowned accounting firm Moore Hong Kong ("MooreHK") to provide daily attestation services and daily reserve proof reports starting from mid to late January 2024. This is another significant initiative by TUSD to develop its international strategy, which positively contributes to enhancing the transparency of TUSD's reserve information and steadily promotes TUSD to become a leading stablecoin in the industry.It is reported that TrueUSD (TUSD) is the first stablecoin pegged to the US dollar, with on-chain real-time verification provided by an independent third-party institution. It is currently listed on over 100 trading platforms, including Binance and HTX, and circulates on more than a dozen mainstream public chains such as Ethereum, TRON, Avalanche, BNB Chain, Fantom, and Polygon. For a long time, TUSD has been committed to establishing a benchmark for transparency in the stablecoin ecosystem, providing a new model for the industry in reserve auditing and on-chain reserve proof.

ChainCatcher news, according to official information, Binance has released the Merkle Tree asset reserve proof (snapshot date is December 1), proving that it has funds to cover all user assets at a 1:1 ratio.Among them: BTC user asset net balance is 561,003.305 coins, Binance platform net balance is 584,373.768 coins, coverage ratio is 104.17%; ETH user asset net balance is 3,889,966.666 coins, Binance platform net balance is 4,145,228.847 coins, coverage ratio is 106.56%; BNB user asset net balance is 30,986,758.764 coins, Binance platform net balance is 33,813,380.992 coins, coverage ratio is 109.12%; USDT user asset net balance is 16,136,534,065.42 coins, Binance platform net balance is 19,240,114,354.151 coins, coverage ratio is 119.23%;

ChainCatcher news, OKLink released the "Centralized Institution Asset Ranking." According to the special page, OKX has disclosed its reserve proof situation 12 times in the past year, while Bybit and Deribit have also disclosed it 12 times. The reserve ratio of the publicized cryptocurrencies exceeds 100%.It is reported that asset security issues remain the top concern for the market participants, and the Proof of Reserves (PoR) mechanism has become one of the recognized solutions. OKLink provides public and transparent on-chain asset overviews, distribution of mainstream on-chain assets across nine major exchanges, data anomaly alerts, and real-time asset viewing functions, enhancing industry transparency and supporting the security of the Web3 ecosystem.

ChainCatcher news, according to official information, Binance has released an update on the reserve proof for November, showing that the reserve ratio for all listed currencies exceeds 100%, with the reserve ratios for BTC, ETH, and USDT being 104.22%, 105.2%, and 118.83%, respectively.

According to ChainCatcher, as reported by Decrypt, U.S. Senator Thom Tillis from North Carolina and U.S. Senator John Hickenlooper from Colorado have introduced a bill titled "The Proving Reserves of Others Funds" (PROOF), aimed at preventing the unethical mixing of customer funds and requiring neutral third-party auditing firms to submit a proof of reserves (PoR) report on a monthly basis.The two senators stated that the bill will establish safeguards to prevent another collapse like FTX. Under the bill, cryptocurrency exchanges must establish baseline account standards to guarantee customer funds, and will also be required to verify the cryptographic proof of reserves as well as the company's liability proof. Finally, the bill stipulates a series of civil penalties, including fines to be paid in the event of a violation.

ChainCatcher news, OKX has released its proof of reserves for the 11th consecutive month, with the reserve ratio of 22 publicly listed cryptocurrencies exceeding 100%. Among them, the reserve ratios for BTC, ETH, and USDT are 102%, 103%, and 102% respectively, with a total value of 11.2 billion USD.It is reported that OKX is committed to enhancing the transparency of its POR to meet traditional financial audit standards, thereby continuously leading the industry in safety and transparency. It is one of the few mainstream cryptocurrency exchanges that publishes proof of reserves on a monthly basis. Currently, the POR system has been upgraded using innovative technologies such as zk-STARK, allowing users to independently verify OKX's solvency at any time. Since OKX first launched the POR at the end of 2022, hundreds of thousands of users have accessed the POR page and completed self-verification.

ChainCatcher news, OKX has officially released the 10th Proof of Reserves (PoR), with the reserve ratio of 22 publicly listed cryptocurrencies exceeding 100%. Among them, the reserve ratios for BTC, ETH, and USDT are 102%, 102%, and 103% respectively, with a total value of 10.4 billion USD.It is reported that OKX is committed to enhancing the transparency of PoR to meet traditional financial audit standards. Currently, the PoR system has been upgraded using innovative technologies such as zk-STARK, allowing users to independently verify OKX's solvency at any time.

ChainCatcher news, according to Cointelegraph, Binance's latest proof of reserves (PoR) shows that Binance's USDC balance decreased from $3.4 billion on March 1 to $23.9 million on May 1.On-chain analyst Aleksandar Djakovic pointed out that after the collapse of Silvergate and Signature banks, Binance purchased approximately 100,000 BTC and 550,000 ETH between March 12 and May 1, totaling about $3.5 billion, which is equivalent to the surplus amount of USDC they held.

ChainCatcher news, Bitget released the eighth asset reserve proof (snapshot date 7-6 16:00 GMT+8), where the BTC reserve ratio reached 454%, the USDT reserve ratio reached 135%, the ETH reserve ratio reached 171%, and the USDC reserve ratio reached 2604%. User BTC assets amount to 2311.23 coins, a month-on-month (6-8) increase of 7%, adding 150.24 BTC; user ETH assets amount to 11,200 coins, a month-on-month increase of 9%, adding 955.47 ETH; user USDT assets amount to 346 million coins, a month-on-month increase of 4%, adding 1.3 million USDT.In December 2022, Bitget launched the reserve proof page. The reserve proof data is updated monthly to ensure that customer funds have at least a 1:1 reserve ratio. Meanwhile, users can also verify their platform assets using the open-source tool "Merklevalidator" on GitHub. (Source link)

ChainCatcher news, Huobi has released the latest asset reserve proof, showing that user BTC asset accumulation has increased by 53.3% compared to June, with an increase of 8,300 BTC; user ETH asset accumulation has increased by 7.2% compared to June, with an increase of 9,500 ETH; user HT asset accumulation has increased by 0.7% compared to June, with an increase of 1.46 million HT; user USDT asset accumulation has increased by 13% compared to June, with an increase of 72 million USDT. (Source link)

ChainCatcher news, according to official information, Binance updated its Proof of Reserves (PoR) on July 1, with the reserve ratio of 30 publicly listed cryptocurrencies exceeding 100%. Among them, the reserve ratio for BTC is 104.3%, for ETH is 101.85%, and for USDT is 108.77%. (Source link)

ChainCatcher news, the reserve proof of the dollar stablecoin TrueUSD was audited by The Network Firm, which was previously named Armanino and had collaborated with SBF to audit FTX.US. Armanino's digital asset team rebranded as The Network Firm to continue auditing and certification after the FTX bankruptcy.Previously, Armanino's 2021 audit did not provide opinions on the internal controls over financial reporting for FTX.US or FTX Trading. (CoinDesk)

ChainCatcher news, Tether released its first quarter reserve proof, with the USDT issuance increasing from $66 billion to over $82 billion. The percentage of secured loans in Tether's reserves decreased from 8.7% to 6.5%. Tether's direct holdings of U.S. Treasury securities reached a historic high of over $53 billion, accounting for more than 64% of total reserves. Treasury securities, along with other reserves in the cash and cash equivalents category (such as overnight repos, term repos, money market funds, cash, and bank deposits), accounted for nearly 85%, reaching an all-time high. Additionally, Tether reduced its bank deposits from $5.3 billion to $481 million in the first quarter to lower the counterparty risk faced by Tether.Previous report indicated that Tether completed an audit conducted by the independent accounting firm BDO Italia, with a net profit of $1.48 billion in the first quarter of 2023, more than doubling quarter-over-quarter, bringing its excess reserves to $2.44 billion, far exceeding the $960 million in the fourth quarter of 2022. (Source link)