Binance has published its balance for XRP, BTC in latest report
its proof-of-reserve report, for the 10th time, showcasing the balance of some of its top digital currencies, including XRP. According to the details contained in the report from the crypto trading platform, the XRP user's balance is pegged at 2,587,670,373.002 units, while the total balance of XRP currently is pegged at 2,686,407,725.227.This price point has placed the XRP reserve ratio at 103.
Binance pioneered the publication of reserve reports among exchanges after the implosion of the FTX Derivatives Exchange. The report can be both independently and by a third party to show that the quoted figures are indeed accurate. With Binance and other exchanges like OKX staying true to this PoR report, they have finally been able to earn some level of trust among users.
According to the update, the exchange also maintains a 105% reserve ratio for its Bitcoin holdings with the total Ethereum ratio coming in at 105% as well.By virtue of the current data shared by Binance, its books are perfect to bolster its current business operations; however, top industry analysts believe the exchange has some transparency issues that might invalidate some of its claims.
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