Report: Binance reserves are 89% clean and Huobi reserves are 56.7% clean

PANews reported on December 19 that according to CoinDesk, CryptoQuant’s recent report has created a new indicator for reserve cleanliness. According to the report, Binance’s reserve cleanliness is 89%, while Huobi’s approximately US$3 billion reserve cleanliness is 56.7%, which means that 43.3% of Huobi’s reserve is composed of its own exchange token HT.

CryptoQuant analysts said that “Huobi’s current reserve setup is highly risky and its issued tokens pose a threat to the company’s network health because it is difficult to verify the authenticity of these token issuances,” while Bobby Ong, co-founder and COO of CoinGecko, said that “we also need to understand Huobi’s liabilities to properly understand the situation.”

As of press time, Huobi officials have not responded to requests for comment.