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Binance’s Proof-of-Reserves Reveals Staggering XRP Holdings – Here’s the Breakdown
Binance’s Proof-of-Reserves Reveals Staggering XRP Holdings – Here’s the Breakdown
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Binance just dropped its latest proof-of-reserves report—and the XRP numbers will make your portfolio blush.
The cold hard stats
No fluff, no filler. The exchange's vaults are stacked deeper than a Wall Street CEO's excuses.
Why this matters
Transparency wins in a market where 'trust me bro' was once considered sufficient auditing. Binance's move pressures rivals to show their cards—or fold.
The cynical take
Of course they're well capitalized today. Check back after the next 'unprecedented market event' that somehow always requires user funds to temporarily vanish.
Screenshot of Bitcoin crypto holdings showing Bitcoin, XRP
In July, users had deposited 2.616 billion XRP, which, at its peak price that month, was valued at over $9.5 billion.
While user deposits have increased by about 58.96 million XRP since then, the total dollar value has dropped due to XRP’s declining price. At press time, XRP is trading at $2.94, compared to $3.66 on July 18.
USDC: The Most Overcollateralized Asset
Among Binance's top crypto asset holdings, USDC has the highest collateralization ratio. Specifically, users have deposited 5.22 billion USDC, while Binance holds 8.15 billion USDC in reserves, representing a massive 156% collateralization ratio. In July, the ratio stood at 152.65%, with an even larger volume of user deposits.
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