Binance Now Holds 67.67T SHIB, Exceeding User’s Balance

Binance has published its latest Proof-of-Reserve (PoR) report for March 2024. The report details the exchange’s cryptocurrency holdings, which include 67.67 trillion Shiba Inu (SHIB) tokens.

The PoR report, audited on April 1, 2024, at 00:00 (UTC), indicates that the cryptocurrency exchange owns billions of dollars in cryptocurrencies, with Shiba Inu being a central holding by the exchange.

Binance Total SHIB Exceeds Customer’s Net Balance

According to the study, Binance’s Shiba Inu reserve is 3.59% larger than the sum of customer deposits. According to the statistics, the cryptocurrency exchange clients’ net balance is 65,321,321,452,095.36 (65.32 trillion) SHIB tokens. At the same time, the exchange has a reserve of 67,670,462,296,521 (67.67 trillion) SHIB.

This implies that the cryptocurrency exchange guarantees its consumers Shiba Inu deposits at a rate of 103.60%. With SHIB now trading at $0.00002752, the total value of Shiba Inu deposits on Binance is $1.89 billion, while the exchange’s SHIB balance is $1.96 billion.

Compared to the prior report from February 1, both the cryptocurrency exchange and its clients’ net balances have slightly decreased. At the time, Binance had a net balance of 69.4 trillion SHIB and a collateralization ratio of 103.6%.

In addition to Shiba Inu, the most recent PoR report emphasizes the cryptocurrency exchange’s high collateralization rates for other prominent cryptocurrencies, including Bitcoin (BTC) and Ethereum (ETH). The study reveals that the collateralization ratios for these assets are 104.46% and 103.58%, respectively.