Binance holds more than $3 billion in customers' cryptocurrencies, trailed by Huobi and Bitfinex

Quick Take

  • Cryptocurrency exchanges are currently holding at least $12.4 billion in bitcoin, ether, and tether
  • Binance currently holds $3.6 billion of customer’s bitcoin, tether and ether; trailed by Huobi ($2.5 billion), Bitfinex ($1.8 billion) and Bittrex ($1.6 billion)
  • Since January, the amount of ETH held by exchanges increased by 38%, which is a much steeper increase than that of the amount of BTC (19% increase)
Bitcoin has launched 10 years ago with the premise of disintermediating the financial system. Yet centralized exchanges are still holding large amounts of cryptocurrencies on users’ behalf. According to The Block’s research, cryptocurrency exchanges are currently holding at least $12.4 billion in bitcoin, ether, and tether (USDT). There are currently approximately 888,400 bitcoins (~5% of […]

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