Binance publishes official Merkle Tree-based proof of reserves

Two weeks after Binance initially pledged to develop a proof-of-reserve (PoR) mechanism in response to the FTX liquidity and chapter fiasco, it printed its official response.

In an announcement on the Binance web site, the change outlined how customers can use the mechanism to confirm its holdings. At present, the one token accessible to confirm by way of the Merkle Tree-based system is (BTC), although the announcement says extra cash shall be added within the coming weeks.