Binance commits to transparency, reveals $40 billion in stablecoin reserves

The Binance cold wallet for Bitcoin contains 475,000 BTC, it claims. At current market value, this is worth around $8 billion. Its Ethereum reserves stand at 4.8 million ETH, worth just below $6 billion at the moment.

The cold wallet listings also revealed almost $40 billion in stablecoins USDT, BUSD, and USDC. Binance is a behemoth when it comes to stablecoin reserves, holding a whopping 27% of all stablecoins in circulation.