Binance’s Bitcoin Reserve Stash Nears 600,000, Company’s BTC Cache Is Now the Largest Held by an Exchange

Binance’s Bitcoin Reserve Stash Nears 600,000, Company’s BTC Cache Is Now the Largest Held by an Exchange


While there’s been a lot of discussions concerning proof-of-reserves, self-custody, and the more than $5 billion in bitcoin and ethereum that left exchanges between Nov. 7 through Nov. 14, 2022, Binance’s bitcoin stash has grown significantly since Nov. 12. In fact, metrics from cryptoquant.com indicate that Binance’s bitcoin reserves reached an all-time high on Nov. 19, 2022, as the trading platform holds roughly 582,054 bitcoin worth $9.62 billion using bitcoin’s exchange rate on Nov. 20, 2022.

Binance Holds Close to 600,000 Bitcoin Today or Roughly 2.77% of the 21 Million Capped Supply

The centralized exchange (cex) Binance is the largest cryptocurrency exchange by trade volume, and the trading platform holds quite a bit of digital assets. There’s been a lot of discussions concerning proof-of-reserves lately

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