How many Dogecoin dogs does Binance have now?

Binance has published its Proof of Reserves (PoR) report for March 2024 update, claiming to hold 67.67 trillion Shiba Inu (SHIB) tokens.
The report shows that at the time of the audit at 00:00 (UTC) on April 1, 2024, the exchange held billions of dollars worth of crypto assets, including Shiba Inu (SHIB).
Binance’s Shiba Inu holdings
Notably, the exchange’s Shiba Inu reserves exceed user deposits by 3.59%. According to the data, while Binance customers have a net balance of 65.32 trillion tokens, the exchange has 676.70 trillion SHIB in reserves.
This shows that Binance has collateralized users’ Shiba Inu deposits at a ratio of 103.60%. With SHIB trading at $0.00002894, users’ Shiba Inu deposits are worth $1.89 billion, while the exchange’s SHIB balance is worth $1.96 billion.
The latest report shows that both Binance and its customers’ net balances have declined from January’s figures. As of February 1, Binance’s net balance was 69.4 trillion SHIB and the collateral ratio was 103.6%.
Binance’s PoR system
Following FTX’s major debacle, Binance and other major exchanges released monthly reports showing proof of reserves for selected assets. The move is intended to prove that these exchanges hold customer assets as is.
Amid Shiba Inu’s widespread adoption on Binance, the exchange added SHIB to its PoR system in February 2023. As of now, Binance’s PoR system covers 31 of the most widely adopted crypto assets on the exchange.
Bitcoin and Ethereum holdings
In its latest report, Binance also stated that the collateralization ratios of top crypto assets such as Bitcoin (BTC) and Ethereum (ETH) are 104.46% and 103.58%, respectively.
For Bitcoin, Binance users hold 568,788.919 BTC worth $41.09 billion, while the exchange maintains a net balance of 594,136.021 BTC ($42.92 billion).
Likewise, Binance users have 4,446,480.486 ETH worth $16.04 billion as deposits, while the exchange has a balance of 4,605,595.896 ETH ($16.61 billion).
Meanwhile, Binance is preparing to implement new know-your-customer (KYC) measures by April 20, which could affect its crypto assets.
Following the implementation of the policy, users who have not completed the exchange’s KYC requirements will no longer be able to gain access to sub-accounts on the platform.
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