Binance has reportedly announced the launch of its asset reserve proof system and the adoption of Merkle tree data structure, taking the effort to keep user assets transparent to a new level. The system will initially provide proof of users' BTC assets and will gradually support more assets and networks in the coming weeks. According to the first batch of audit results, the current BTC chain reserve is 582,485.9302 BTC, the net balance of users is 575,742.4228 BTC, and the reserve ratio is 101%. A second tranche of proof will be announced in the next two weeks, which will include more assets. Changpeng Zhao (CZ), founder and CEO of Binance, said: "In light of recent events, we see that the community will demand far more from cryptocurrency exchanges than it currently requires from traditional financial institutions. That's why we're pleased to offer our users this new verification feature to verify that their money is safe."
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