{"id":14641,"date":"2022-11-20T19:14:10","date_gmt":"2022-11-20T19:14:10","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/binances-bitcoin-reserve-stash-nears-600000-companys-btc-cache-is-now-the-largest-held-by-an-exchange-bitcoin-news\/"},"modified":"2022-11-20T19:14:10","modified_gmt":"2022-11-20T19:14:10","slug":"binances-bitcoin-reserve-stash-nears-600000-companys-btc-cache-is-now-the-largest-held-by-an-exchange-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/binances-bitcoin-reserve-stash-nears-600000-companys-btc-cache-is-now-the-largest-held-by-an-exchange-bitcoin-news\/","title":{"rendered":"Binance\u2019s Bitcoin Reserve Stash Nears 600,000, Company’s BTC Cache Is Now the Largest Held by an Exchange \u2013 Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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While there\u2019s been a lot of discussions concerning proof-of-reserves, self-custody, and the more than $5 billion in bitcoin and ethereum that left exchanges between Nov. 7 through Nov. 14, 2022, Binance\u2019s bitcoin stash has grown significantly since Nov. 12. In fact, metrics from cryptoquant.com indicate that Binance\u2019s bitcoin reserves reached an all-time high on Nov. 19, 2022, as the trading platform holds roughly 582,054 bitcoin worth $9.62 billion using bitcoin\u2019s exchange rate on Nov. 20, 2022.<\/strong><\/p>\n

Binance Holds Close to 600,000 Bitcoin Today or Roughly 2.77% of the 21 Million Capped Supply<\/h2>\n

The centralized exchange (cex) Binance is the largest cryptocurrency exchange by trade volume, and the trading platform holds quite a bit of digital assets. There\u2019s been a lot of discussions concerning proof-of-reserves<\/a> lately and exchanges have been sharing crypto addresses to prove they hold specific assets.<\/p>\n

Following the FTX collapse, Binance\u2019s CEO Changpeng Zhao (CZ) told the public<\/a> that \u201cBinance will start to do proof-of-reserves soon.\u201d The exchange then provided hot and cold wallet addresses that week associated with Binance and the company further promised \u201cMerkle tree [proof-of-reserves]\u201d with plans to share them with the \u201ccommunity in the next few weeks.\u201d<\/p>\n

\"Binance\u2019s
Binance bitcoin (BTC<\/a>) reserves on Nov. 19, 2022, according to cryptoquant.com.<\/figcaption><\/figure>\n

The analytics firm Nansen also published a dashboard that includes digital currency exchange reserves from Deribit<\/a>, Crypto.com<\/a>, Okx<\/a>, Kucoin<\/a>, and Binance<\/a>. A snapshot<\/a> from archive.org indicates that Binance\u2019s reserve status on Nov. 11, 2022, was $26.71 billion. Nine days later, Nansen\u2019s Binance reserves dashboard indicates the firm now holds crypto assets worth $65.69 billion.<\/p>\n

\"Binance\u2019s
Binance bitcoin (BTC<\/a>) reserves on Nov. 20, 2022, according to coinglass.com.<\/figcaption><\/figure>\n

Six days ago, Bitcoin.com News reported<\/a> on the fact that data had shown between Nov. 7 through Nov. 14, 2022, more than $5 billion in BTC<\/a> and ETH<\/a> was removed from exchanges. Statistics<\/a> from cryptoquant.com shows Binance held approximately 526,128 BTC<\/a> on Nov. 6, 2022, and by Nov. 12, Binance\u2019s BTC<\/a> stash was down to 447,964. The firm\u2019s BTC<\/a> reserves dropped by 78,164 bitcoin in six days time. On Nov. 18, blockchain parsers<\/a>, and more specifically btcparser3<\/a>, had shown Binance was moving a lot of BTC<\/a> from cold and hot wallets.<\/p>\n

\"Binance\u2019s
Btcparser3 caught some significant movement two days ago from Binance wallets on Nov. 18, 2022.<\/figcaption><\/figure>\n

Furthermore, Binance\u2019s bitcoin (BTC<\/a>) reserves stash, at least according to cryptoquant.com statistics, is sitting at an all-time high. On Nov. 19, 2022, cryptoquant.com records show 582,511 bitcoin is reportedly stored on Binance. If cryptoquant.com\u2019s data is correct, Binance commands 2.77% of BTC<\/a>\u2019s 21 million total supply.<\/p>\n

Coinglass.com\u2019s bitcoin exchange balance data<\/a> shows Binance holds 572,332.34 on Nov. 20, 2022. The metrics from coinglass.com indicates that 127,224.90 was added to Binance\u2019s bitcoin cache in the last seven days.<\/p>\n

Binance\u2019s exchange balance stats stemming from both cryptoquant.com and coinglass.com indicates that the exchange currently holds more BTC<\/a> than Coinbase. Cryptoquant.com metrics show Coinbase Pro held 533,946 BTC<\/a> on Nov. 19, 2022. Coinglass.com\u2019s bitcoin exchange balance data shows Coinbase Pro holds 529,544.83 BTC<\/a> on Sunday, Nov. 20, 2022.<\/p>\n

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\nTags in this story
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2.77%<\/a>, 21 million<\/a>, 600K bitcoin<\/a>, Binance<\/a>, Binance Bitcoin<\/a>, Binance BTC<\/a>, Binance Reserves<\/a>, Bitcoin (BTC)<\/a>, bitcoin reserves<\/a>, Blockchain Parsers<\/a>, BTC<\/a>, BTC Cache<\/a>, BTC Reserves<\/a>, BTC Stash<\/a>, Btcparser3<\/a>, Coinbase Pro<\/a>, coinglass.com<\/a>, Crypto.com<\/a>, cryptoquant.com<\/a>, deribit<\/a>, KuCoin<\/a>, Nansen<\/a>, Okx<\/a>, Proof of Reserves<\/a><\/div>\n<\/div>\n

What do you think about Binance\u2019s bitcoin reserve status growing close to 600K bitcoin this weekend? Let us know what you think about this subject in the comments section below.<\/strong><\/em><\/p>\n

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\nJamie Redman <\/h6>\n

\nJamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons, Editorial photo credit: Primakov \/ Shutterstock.com<\/em><\/p>\n

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Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

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