Quantcast

Binance CEO on transparency: 'Your assets, fully backed. No questions, no doubts'

Find out how to transform 10 euros into 100k with Bitcoin Runes
After 6 weeks of accumulation, Ethereum ready to soar? ETH analysis of April 19, 2024
Best Crypto to Buy Now April 19 – Bitcoin, Dogwifhat, THORChain
Billionaire Mark Cuban weighs in on the bitcoin halving
Worldcoin launches layer 2 blockchain as eye scanning venture hits 10m users
Europe dominates crypto banking with 63 providers
French Usual raises $7M with its stablecoin USD0
Binance teams up with European universities to train students in Web3
Mobicoin: Mercedes-Benz launches an ecological cryptocurrency
Crypto Investors are Moving Funds into This Virtual Reality Project Before it Lists on Exchanges – What Does it Do?
27% of Ethereum Now Staked: $98 Billion Committed as Interest Peaks – Bitcoin News
Will bitcoin Continue to Rise or Fall?
Halving Bitcoin this week – Should you sell or buy?
Bitcoin seen surging to $450,000 — if this halving trend plays out
Cryptocurrencies: The Rebound Of Solana (Sol) Outperforms Bitcoin And Ethereum
CoinShares: Investors withdraw $126m as crypto confidence wanes
April's first two weeks saw more Ethereum loans liquidated than any month since June 2022
Will Bitcoin reach a new ATH in less than 10 days?
Binance adds Ethereum Omni Network project to Launchpool
Last weekend before the halving: What does the price of Bitcoin have in store for us?
Crypto liquidations creep toward $500 million as major token prices plunge
US government tops global Bitcoin holdings with $15b in assets
Cryptocurrencies: This London Mayoral Candidate Proposes Launching A London Coin
With its volatility at its lowest, Bitcoin ready for its next big move? BTC analysis for April 12, 2024
How Bitcoin’s record run could ignite a $2.5bn ‘powder keg’ of short interest
‘Tokenized Hedge Fund’ Rakes in Crypto Billions With 37% Yield
Marathon CEO Says Bitcoin's Upcoming Halving Event is Already Partially Priced In
Cryptocurrencies On Solana: Return To The Niche For Memecoins?
Spot bitcoin ETF cumulative trading volume crosses $200 billion
EU's MiCA Rules Have Had Little Influence on the European Crypto Market, Regulator Says
Binance CEO on transparency: 'Your assets, fully backed. No questions, no doubts'
Web3/Crypto
Webp   20250310t095847 734
Richard Teng, CEO of Binance | Binance

Richard Teng, CEO of Binance, said that the company's March Proof of Reserves update reaffirms its "commitment to transparency," with Bitcoin (BTC) at 100.77%, Ethereum (ETH) at 100.00%, and Binance Coin (BNB) at 110.92%. The statement was made on X on March 10.

"New month, same commitment to transparency," said Teng. "March Proof of Reserves update: BTC: 100.77%, ETH: 100.00%, BNB: 110.92%, USDT: 104.42%, TRUMP (New!): 100.38%. Your assets, fully backed. No questions, no doubts."

According to Binance's official announcement on March 7, 2025, the exchange released its 28th Proof of Reserves report, reaffirming that all user assets remain fully backed. The report indicates that user Bitcoin assets total 628,252 BTC, reflecting a 2.02% increase from the previous month. Similarly, Ethereum holdings reached 5.617 million ETH, marking a 0.59% rise, and Tether (USDT) assets grew by 7.45% to 29.4 billion USDT. These figures demonstrate Binance's ongoing commitment to transparency and user asset security.

Get the Newsletter
Sign-up to receive weekly round up of news from Crypto Republique
By submitting, you agree to our Privacy Policy and Terms of Service. By providing your phone number you are opting in and consenting to receive recurring SMS/MMS messages, including automated texts, to that number from our short code. Msg & data rates may apply. Reply HELP for help, STOP to end. SMS opt-in will not be sold, rented, or shared.

In its March 2025 Proof of Reserves report, Binance included the TRUMP coin for the first time, reflecting the exchange's comprehensive approach to transparency. The TRUMP coin, a political meme token associated with former U.S. President Donald Trump, shows a reserve ratio of 100.38%. This inclusion demonstrates Binance's commitment to providing assurance to users holding a diverse range of assets on its platform.

This announcement comes amid heightened concerns over cryptocurrency exchange security following a significant breach at Bybit. On February 21, 2025, Bybit experienced a security breach resulting in the theft of approximately $1.5 billion worth of Ethereum. According to the Federal Bureau of Investigation (FBI), the attack was orchestrated by North Korea's Lazarus Group, also known as TraderTraitor. The hackers employed sophisticated malware to manipulate Bybit's transaction processes, diverting funds to addresses under their control.

Teng is a seasoned executive with over three decades in financial services and regulatory sectors and became the CEO of Binance in November 2023. Prior to this role, he served as the CEO of the Financial Services Regulatory Authority at Abu Dhabi Global Market and held senior positions at the Singapore Exchange and the Monetary Authority of Singapore. Teng's extensive experience is expected to guide Binance through its next phase of growth and regulatory compliance.

Founded in 2017, Binance has rapidly grown to become the world's largest cryptocurrency exchange by trading volume. The platform offers a wide array of services including spot and derivatives trading, staking, and decentralized finance services. Binance's commitment to transparency and security has played a pivotal role in its expansion and user trust globally.

Organizations Included in this History
More News

Tracking the latest price action across Bitcoin, Ethereum, Binance Coin, and more on March 16, 2025.

Mar 17, 2025

Rachel Conlan, Chief Marketing Officer at Binance, said that Binance Blockchain Week is a global event showcasing the broader crypto ecosystem and the strength of its community.

Mar 17, 2025

The Austrian Financial Market Authority (FMA) has announced a new edition of its consumer publication series, "Let’s Talk About Money," titled "Crypto, why s(ec)urely!"

Mar 17, 2025

The Commissione Nazionale per le Società e la Borsa (Consob) has announced a joint communication with the Bank of Italy regarding guidelines for accounting, market transparency, and auditing of crypto-assets in financial statements.

Mar 17, 2025

Tracking today’s crypto price changes across Binance Coin, Bitcoin, Ethereum, and other key cryptocurrencies on March 15, 2025.

Mar 16, 2025

Here’s how Bitcoin, Ethereum, Binance Coin, and other key cryptocurrencies performed on March 14, 2025.

Mar 15, 2025