Binance, the world’s largest Centralized Exchange (CEX), has published its Proof of Reserves showing that customers’ bitcoin balances are backed on-chain at a more than one-to-one ratio.

Binance CEO Changpeng Zhao has said countries better regulate crypto rather than fight it, claiming that crypto adoption will happen no matter what. 

Binance announced on Friday that it is establishing a new proof of reserves (PoR) website to indicate that it holds client assets in full as a digital currency keeper.

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The CEO of Binance, Changpeng Zhao (CZ), talked about cryptocurrency regulation following the collapse of crypto exchange FTX Friday at a Binance event in Athens, Greece.

Binance CEO, Changpeng Zhao or popularly known as “<a href="https://coingape.com/tag/cz/">CZ</a>“, recently shared a post where he seems to be in Albania, in meets with Prime Minister Edi Rama and the team from RNS.ID, which describes itself as the world’s first sovereignty-backed digital ID platform.

Binance holds nearly $1 billion in Shiba Inu.

After some crypto leaders claimed Binance’s “proof of reserves” as pointless, Binance CEO Changpeng “CZ” Zhao stated Merkle Tree-based proof of reserve as “healthy checks.” Binance CEO in a blog on Saturday answered how funds are managed at Binance to ensure full transparency and secure customers’ crypto assets.

Kraken CEO calls Binance PoR system "pointless"; FTX Started Bankruptcy Proceedings; Binance launches $2B for its crypto recovery fund; Elon Musk says Wall Street Journal was giving foot massages to Sam Bankman-Fried.

ATHENS, Nov 25 (Reuters) - Binance Chief Executive Officer Changpeng Zhao said on Friday regulation rather than opposition of the crypto sector is a better option for world governments as digital currencies become more mainstream.