Key Highlights:
- Binance’s Bitcoin and Ethereum holdings have dipped, but USDT holdings surged by 4.34%, reflecting growing user preference for stablecoins.
- Tokocrypto, Binance’s Indonesian unit, became the third crypto exchange in Indonesia to obtain a full crypto license, with over 30 competitors still waiting for approval.
Yello Paradisers! Missed out on Binance’s latest moves? Well, you might want to catch up fast. The crypto giant just dropped its 22nd Proof of Reserves report, and its Indonesian unit Tokocrypto has snagged a full crypto license, becoming only the third exchange in the country to do so. If you’re sitting on the sidelines, now’s the time to pay attention, because Binance isn’t just holding the fort, it’s expanding its empire.
Binance’s Proof of Reserves: BTC and ETH Dip, but USDT Skyrockets
In its latest Proof of Reserves report, Binance shows it’s still one of the biggest crypto custodians on the planet, but it’s not all rainbows and moonshots. Bitcoin (BTC) holdings have dipped slightly by 1.27%, down to 605,000 BTC, while Ethereum (ETH) has taken a 4.58% hit, with a drop of 215,000 ETH. Sure, the numbers are down, but Binance’s vaults are still bulging with crypto goodness.
On the flip side, there’s a clear winner: Tether (USDT). Binance users now hold a whopping 22.11 billion USDT, up 4.34% from the previous report. It seems the market’s been flocking to stablecoins like moths to a digital flame, craving the safety net that USDT provides amid market chaos.
Tokocrypto Secures Full License: Binance Expands in Indonesia
Meanwhile, Binance’s Indonesian subsidiary, Tokocrypto, has become the third exchange in Indonesia to snag a full Physical Crypto Asset Trader (PFAK) license. With over 30 exchanges still waiting in line, Tokocrypto has vaulted ahead, thanks to its partnership with Binance. Indonesia, a country with sky-high crypto demand, has rolled out new regulations through its Commodity Futures Trading Regulatory Agency (Bappebti). So, if you’re thinking of where the next crypto boom might be brewing, Indonesia’s looking mighty tempting.
In the ever-shifting world of crypto, those who stand still are left behind. And with Binance’s latest report and Tokocrypto’s big win, standing still is the last thing they’re doing.
