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New on-chain data reveals that tens of billions of dollars worth of digital assets are currently sitting within the reserves of crypto exchange platforms Binance, Bitfinex and OKX.<\/p>\n
Citing information from crypto data aggregator DeFi Llama, blockchain tracker Lookonchain says<\/a> that Binance holds $66.91 billion worth of crypto assets while OKX and Bitfinex hold $12.41 billion and $11.74 billion, respectively.<\/p>\n \u201cAccording to DeFi Llama, <\/em><\/p>\n Binance holds $66.917 billion assets: $20.578 billion BTC, $18.84 billion USDT [and] $8.085 billion wETH\/ETH.<\/em><\/p>\n OKX holds $12.413 billion assets: $5.2 billion USDT, $4.827 billion BTC, [and]$1.95 billion wETH.<\/em><\/p>\n Bitfinex holds $11.746 billion assets: $7.69 billion BTC, $2.596 billion LEO [and] $0.77 billion wETH.\u201d<\/em><\/p>\n The majority of the virtual currencies held by the three crypto exchanges include prominent tokens such as Bitcoin (BTC<\/a>), Ethereum (ETH<\/a>), Wrapped Ethereum (wETH) and stablecoin USDT<\/a>.<\/p>\n The figures come out as Binance continues to grapple with regulatory oversight. Earlier this month, the crypto exchange was hit with a $4.3 billion fine for failing<\/a> to maintain adequate anti-money laundering protocols. Furthermore, its CEO, Changpeng Zhao, pleaded guilty to the charges and stepped down from his position.<\/p>\n Last week, new Binance chief executive Richard Teng said<\/a> that the firm\u2019s fundamentals remain \u201cvery strong\u201d despite its regulatory woes.<\/p>\n Previously, data from market intelligence firm Nansen found<\/a> that Binance saw an outflow of $17 million worth of Ethereum and $956 million worth of Bitcoin near the time it was hit with the fine. However, it also showed that Binance\u2019s total holdings slightly increased during that time.<\/p>\n \u201cTotal holdings value has increased over the past 12 hours from $64.6 billion to $65.2 billion. This takes into account outflows and changes in prices over the past 12 hours.\u201d<\/em><\/p>\n Don’t Miss a Beat \u2013 Subscribe<\/a> to get email alerts delivered directly to your inbox <\/span><\/em>
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