#YiHe:ProofOfReserves:10TokensAt100%Backing
Binance CEO Yi He says:
💰 $6.34 billion of Binance's own money is set aside to protect users.
🛡️ 10 major coins are now 100% backed — $BTC , ETH, USDT, BNB, SOL, USDC, $XRP USD1, RLUSD and $ZEC
📈 Binance is still buying remaining coins to make sure every token is 100% backed.
📅 Full Proof of Reserves verification is expected on November 3.
🔍 Users will be able to independently check that their funds are backed.
What does 100% backed mean?
If users hold 100 coins, Binance has at least 100 coins in reserve to cover them.
Very positive news for Binance users. Binance says it has enough money to cover users' assets, and independent verification is coming soon.
#zec #BTC #xrp
Binance CEO Yi He says:
💰 $6.34 billion of Binance's own money is set aside to protect users.
🛡️ 10 major coins are now 100% backed — $BTC , ETH, USDT, BNB, SOL, USDC, $XRP USD1, RLUSD and $ZEC
📈 Binance is still buying remaining coins to make sure every token is 100% backed.
📅 Full Proof of Reserves verification is expected on November 3.
🔍 Users will be able to independently check that their funds are backed.
What does 100% backed mean?
If users hold 100 coins, Binance has at least 100 coins in reserve to cover them.
Very positive news for Binance users. Binance says it has enough money to cover users' assets, and independent verification is coming soon.
#zec #BTC #xrp