Binance Proof of Reserves Shows No SOL or ETH Holdings in October

The latest reserves report indicates Binance holds $21,000 in Bitcoin, with zero positions in Solana and Ethereum.

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Summary

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Terms & Concepts
  • Proof of Reserves: A verification process used by cryptocurrency exchanges to prove the amount of assets they hold, often through cryptographic methods or audited reports.
  • SOL: The native cryptocurrency of the Solana blockchain, used for transaction fees, staking, and governance.
  • ETH: The native cryptocurrency of the Ethereum blockchain, used for executing smart contracts and paying transaction fees.