#BTCbreakback$75k

How much cryptocurrency is held on exchanges

▪️Proof-of-Reserves (PoR) is a cryptographic mechanism for verifying the ownership of digital assets, proving that an exchange does not use client funds and that the specified amount of cryptocurrency is indeed held in its wallets.

▪️Major crypto exchanges regularly publish PoR reports. According to the latest data, Binance holds nearly $110 billion, with more than 75% of its assets in Bitcoin, the stablecoin USDT, and the exchange’s native token BNB.

▪️OKX holds $18.5 billion, with around 87% of assets in Bitcoin, USDT, and Ethereum. The exchange updates its PoR reports every two weeks. Bybit holds reserves of $10.5 billion, of which 74% are in Bitcoin, USDT, and ETH. Bybit's reserve reports are updated monthly.

▪️The Proof of Reserves concept is applicable not only to exchanges or other crypto projects.

The idea of verifying reserves without disclosing personal information can be utilized in any banking or financial organization.