BINANCE PROVES IT - 1:1 RESERVES NOW 100% VERIFIABLE!
After the $6.3B hack, everyone asked one question - is my money really there? Binance just answered with MATH, not words.
On Nov 2, Binance completed the full zero-knowledge (zk-SNARK) proof for its Proof of Reserves snapshot taken Oct 31 00:00 UTC. You can now VERIFY YOURSELF that your balances are backed at least 1:1.
10 Tokens now 100% backed and verifiable: $BTC, $ETH, $USDT, $BNB, $SOL, $USDC, $XRP, $USD1, $RLUSD, and $ZEC.
What most people don't know:
Binance uses TWO proofs - a Merkle Tree to prove YOUR account is included in the snapshot, and a zk-SNARK to prove reserves >= liabilities without revealing anyone's balance.
The verifier tool is open-source on GitHub, independently audited, and you run it on YOUR own computer - you don't have to trust Binance's website.
And the biggest update: 95% of the stolen amount is now covered (up from 90%). The last 5% are less liquid tokens that take time to buy at scale. Binance said it will ABSORB the loss, not users.
Next snapshot for more tokens is Nov 4, proof takes 40-50 hours.
$BTC $BNB $USDT
#verify1to1binancereserves #ProofOfReserves #BinanceIsSAFU #zkProof #BinanceRecovery
After the $6.3B hack, everyone asked one question - is my money really there? Binance just answered with MATH, not words.
On Nov 2, Binance completed the full zero-knowledge (zk-SNARK) proof for its Proof of Reserves snapshot taken Oct 31 00:00 UTC. You can now VERIFY YOURSELF that your balances are backed at least 1:1.
10 Tokens now 100% backed and verifiable: $BTC, $ETH, $USDT, $BNB, $SOL, $USDC, $XRP, $USD1, $RLUSD, and $ZEC.
What most people don't know:
Binance uses TWO proofs - a Merkle Tree to prove YOUR account is included in the snapshot, and a zk-SNARK to prove reserves >= liabilities without revealing anyone's balance.
The verifier tool is open-source on GitHub, independently audited, and you run it on YOUR own computer - you don't have to trust Binance's website.
And the biggest update: 95% of the stolen amount is now covered (up from 90%). The last 5% are less liquid tokens that take time to buy at scale. Binance said it will ABSORB the loss, not users.
Next snapshot for more tokens is Nov 4, proof takes 40-50 hours.
$BTC $BNB $USDT
#verify1to1binancereserves #ProofOfReserves #BinanceIsSAFU #zkProof #BinanceRecovery
