According to recently released exchange reserve data, Binance’s bitcoin reserves fell by $355 million in the last month, while customer balances increased by more than $4 billion, narrowing the gap between the two. At the beginning of this year, Binance held 622,192 BTC of Bitcoin, some of which was deposited in third-party escrow and exchange accounts. By February 1, this number had dropped to 618,563 BTC. The customer’s net balance increased from 575,296 BTC to 615,816 BTC, causing its mortgage ratio to drop from 108% to 100%. Tether’s USDT stablecoin balance also fell by approximately $25 million, while customer balance increased by $2.6 billion.(CoinDesk)
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