Binance says it holds $5B in matching tokens to cover hack losses
Summary
Cryptocurrency exchange Binance announced it has reserved billions of dollars in matching tokens to safeguard against potential hack losses. The company confirmed these assets will be featured in its upcoming proof-of-reserves report to demonstrate financial backing.
The exchange said it set aside more than $6.34 billion to cover losses and would include the assets in its next proof-of-reserves report.
Source: Read the full story at Cointelegraph.com News
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