Binance Expands Proof of Reserves Report with 11 New Tokens - Here Are the Coins That Were Added

cryptonews.com:

Binance has expanded its Proof-of-Reserve (PoR) report to include 11 more tokens, bringing the overall amount of funds verifiable via the exchange's PoR system to over $63 billion. 

In a Tuesday blog post, the world's largest crypto exchange revealed that it has added MASK, ENJ, WRX, GRT, CHR, CRV, 1INCH, CVP, HFT, SSV, and DOGE to its PoR system. The report now allows users to verify the amount of funds on the exchange across 24 different cryptocurrencies.

"With the addition of 11 assets to its PoR system, Binance, the world’s largest exchange by trading volume, now shows over 63B USD in reserves," the exchange said in the announcement. 

The unprecedented collapse of FTX, once the third-largest cryptocurrency exchange, stirred up a lot of concerns within the crypto industry over the reliability of centralized players. In a bid to address this skepticism, crypto executives started to share proof of reserves.

Binance was among the very first platforms to share its Proof of Reserves report. Initially, the platform shared a list of how many tokens it has but noted that it was “not a complete set of data” and that further details will be shared in an upcoming full audit report.

Later in December, Binance shared its PoR report audited by Mazars, which claimed that Binance's bitcoin reserves have a 101% collateralization ratio. However, some crypto experts were quick to find some holes in the audit. 

More specifically, Kraken co-founder Jesse Powell noted that the figures essentially state Binance’s bitcoin is 97% collateralized. The revelation led to a surge in withdrawals as rumors about alleged problems at the platform drove users away. 

In a bid to address this skepticism, Binance incorporated zk-SNARKs into its proof-of-reserves