Cryptocurrency exchange company Binance has released a new site that explains its proof-of-reserves system. The company is starting with BTC reserves. Right now, Binance has a reserve ratio of 101%. It means that the company has enough bitcoins to cover all users’ balances.
This move comes a couple of weeks after the collapse of FTX, another popular crypto exchange. In FTX’s case, the company faced a liquidity crisis. It stopped processing withdrawals because it couldn’t meet demand from investors and end users.
Crypto companies — and crypto exchanges in particular — have been trying to be mor