Bitfinex’s reserves are 91% Bitcoin, Ethereum News โธ Binance โธ Bitfinex โธ Coinbase โธ Crypto.com โธ HTX โธ OKX โธ Bitcoin · Ethereum โธ Derivatives
Bitfinex’s reserves are 91% Bitcoin, Ethereum
Bitcoin and Ethereum accounts for 63% of Coinbase, and 15% of Binance.
1 min read
Updated: Nov. 23, 2022 at 6:36 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
According to data shared by crypto influencer John Brown, 91% of Bitfinex exchange’s reserves are Bitcoin (BTC) and Ethereum (ETH).
Coinbase follows Bitfinex as a close second by having 63% of its reserves in Bitcoin and Ethereum, according to additional information added by Brown.
The ratio of reserves held in BTC & ETH differs strongly per exchange.
(Data from @cryptoquant_com) pic.twitter.com/UwxRrS5Ltc— John Brown (@john_j_brown) November 21, 2022
Crypto.com comes as the third exchange with the most significant Ethereum and Bitcoin percentages at 52%.
Leading exchange Binance is placed at the bottom of the list by having only 15% of its reserves consisting of Bitcoin or Ethereum.
Proof of reserves
Upon the FTX collapse, Binance CEO Changpeng Zhao suggested that all exchanges publish their proof-of-reserves. Many exchanges followed Zhao’s advice and published their documents, including Bitfinex, Crypto.com, Binance, OKX, and Coinbase.
According to its proof-of-reserves, Bitfinex holds around 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 exchange also stated that its Bitcoin and Ethereum are worth around $3 billion when combined with Crypto.com’s other holdings.
Binance also published its proof of funds on Nov. 11. The exchange disclosed that it held around $69 billion worth of digital assets. It also detailed that it had 475,000 Bitcoin and 4.8 million Ethereum, which consists of only 15% of the exchange’s reserves. Binance also holds 58 million BNB and 17.6 billion USDT, amongst others.
OKX and Coinbase, on the other hand, revealed that they back all their users’ assets at 1:1 by real funds.
Mentioned in this article
Posted In: Bitcoin, Ethereum, Binance, Bitfinex, Coinbase, Crypto.com, HTX, OKX, Derivatives, Exchanges
Author 
Zeynep Geylan
Zeynep is an academic who turned to crypto in 2018. Originating in social sciences, she is especially interested in the social impact of blockchain and cryptocurrencies and strongly believes in their transmuting power.
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Binance
Binance is a global cryptocurrency exchange that provides a platform for trading more than 100 cryptocurrencies.
KuCoin
KuCoinโฏis a global cryptocurrency exchange for numerous digital assetsโฏand cryptocurrencies that launched in September 2017.
HTX
Huobi, a virtual asset exchange, launched a revised branding strategy on September 13, 2023, where “Huobi” will be rebranded as “HTX.” “H” stands for Huobi, “T” represents TRON with a commitment to being all in TRON, and “X” stands for the exchange.
Bybit
Bybit is a cryptocurrency derivative trading platform established in March 2018 and registered in the BVI.
OKX
OKX is a world-leading digital asset exchange, providing advanced financial services to global traders by using blockchain technology.
Crypto.com
Crypto.com was founded in 2016 on a simple belief: itโs a basic human right for everyone to control their money, data and identity.
Bitfinex
Bitfinex is a digital asset trading platform offering state-of-the-art services for digital currency traders and global liquidity providers.
Coinbase
Coinbase is a digital currency exchange and wallet service that allows individuals to buy, sell, and store digital currencies, such as Bitcoin, Ethereum, and Litecoin.
FTX
FTX is a defunct cryptocurrency exchange, currently in bankruptcy proceedings, that was founded by Sam Bankman-Fried and Zixiao “Gary” Wang in May 2019.
