Bitfinex’s reserves are 91% Bitcoin, Ethereum

According to information shared by crypto influencer John Brown, 91% of Bitfinex exchange’s reserves are Bitcoin (BTC) and Ethereum (ETH).

Coinbase follows Bitfinex arsenic a adjacent 2nd by having 63% of its reserves successful Bitcoin and Ethereum, according to further accusation added by Brown.

The ratio of reserves held successful BTC & ETH differs powerfully per exchange.
(Data from @cryptoquant_com) pic.twitter.com/UwxRrS5Ltc

— John Brown (@john_j_brown) November 21, 2022

Crypto.com comes arsenic the 3rd speech with the astir important Ethereum and Bitcoin percentages astatine 52%.

Leading speech Binance is placed astatine the bottommost of the database by having lone 15% of its reserves consisting of Bitcoin oregon Ethereum.

Proof of reserves

Upon the FTX collapse, Binance CEO Changpeng Zhao suggested that each exchanges people their proof-of-reserves. Many exchanges followed Zhao’s proposal and published their documents, including Bitfinex, Crypto.com, Binance, OKX, and Coinbase.

According to its proof-of-reserves, Bitfinex holds astir 207,356.67967717 Bitcoins and 1,225.600 Ethereums.

Crypto.com’s 52% equates to 53,024 Bitcoins and 391,564 Ethereum, according to its proof of reserves. The speech besides stated that its Bitcoin and Ethereum are worthy astir $3 cardinal erstwhile combined with Crypto.com’s different holdings.

Binance besides published its impervious of funds connected Nov. 11. The speech disclosed that it held astir $69 cardinal worthy of integer assets. It besides elaborate that it had 475,000 Bitcoin and 4.8 cardinal Ethereum, which consists of lone 15% of the exchange’s reserves. Binance besides holds 58 cardinal BNB and 17.6 cardinal USDT, amongst others.

OKX and Coinbase, connected the different hand, revealed that they backmost each their users’ assets astatine 1:1 by existent funds.

The station Bitfinex’s reserves are 91% Bitcoin, Ethereum appeared archetypal connected CryptoSlate.