Cryptocurrencies Binance releases proof of bitcoin reserves, ups recovery fund to $2 billion
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Binance’s better than 1:1 ratio of user bitcoins to their own bitcoin reserves is an attempt to reassure markets it holds its users' assets in the same tokens that they had deposited, and to force rival exchanges to prove that their bitcoin holdings are on-chain and not just on paper. He wrote that the recovery fund has already received applications for assistance from over 150 companies and projects.
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