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Yi He says Binance reserve fall reflects price swings

NewsFeeds update

Binance co-founder Yi He said DefiLlama's figures rely on publicly disclosed proof-of-reserves data and are valued in dollars at the relevant dates' crypto prices, so totals move with prices. A user had noted Binance's reserves fell to 127bn USDT from 151bn USDT on 29 September.

StablecoinsPANewsAINeutral

Read the original on PANews

The story so far: Binance proof-of-reserves holdings shift

Binance's October proof-of-reserves data showed user BTC holdings up about $537 million and ETH holdings down about $499 million. Yi He said $6.34bn of company funds went into the user pool with major assets 100% backed, and now says the latest proof of reserves is verifiable via ZKProof and backed at least 1:1.

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  1. Binance October proof of reserves shows BTC holdings up $537m, ETH down $498m

  2. Binance user Bitcoin holdings rose $537m in September, ether fell $499m

  3. Yi He says Binance has allocated $6.34bn of company funds to user pool

  4. Yi He says Binance will issue further proof of reserves after topping up altcoins

  5. Yi He says Binance reserve fall reflects price swings

  6. Yi He says Binance's latest proof of reserves is verifiable via ZKProof and backed at least 1:1

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Every update is a short rewrite, by AI in our own words, of a flash from the outlet named on it, credited and linked. Updates are joined into one story by AI; our editors can change a story’s name or take an update out. Not investment advice.