Binance Launches Proof of Reserves for Bitcoin

Binance, the world’s largest cryptocurrency
exchange by trading volume, on Friday launched the Proof of Reserves (PoR) for
its Bitcoin (BTC) holdings in its latest show of transparency to reassure
customers of its health following the sudden collapse of top cryptocurrency
exchange FTX.

A PoR is an independent audit conducted by a
third party that seeks to confirm that a digital asset custodian truly holds
the assets it claims it has in reserves to secure customers’ funds…
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