Examining the Holdings of 5 Centralized Crypto Exchanges: A Look at Binance, Okx, Crypto.com, Bitfinex, and Huobi

Examining the Holdings of 5 Centralized Crypto Exchanges: A Look at Binance, Okx, Crypto.com, Bitfinex, and Huobi


After FTX collapsed, the incident prompted many major crypto exchanges to publish proof-of-reserves and lists of known addresses so users can verify the solvency of the trading platforms. While the veracity of these proof-of-reserve lists and asset dashboards is debatable, they do provide some insight into the large sums of cryptocurrency held in custody by major exchanges. For example, Binance, the largest cryptocurrency exchange by trade volume, manages $66 billion in crypto assets, which is more than 6% of the entire cryptocurrency economy’s net value of $1 trillion.

An Inspection of 5 Proof-of-Reserves Lists That Provide Insight into Large Cryptocurrency Holdings

It has been more than 80 days since Coindesk published a story about Alameda Research’s balance sheet, which showed the quantitative trading desk owned

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