The circulating information about Binance's lack of transparency in publishing Proof of Reserves was quickly dismissed by CEO Changpeng Zhao, citing that the public process is conducted regularly and transparently.

Binance continues to maintain the June asset proof report affirming the 1:1 ratio for user assets, alongside a strong increase in Bitcoin holdings. Some unfounded allegations were quickly rebutted directly by the exchange's leadership to protect its reputation.

MAIN CONTENT

  • Binance publishes Proof of Reserves at the beginning of the month after a few days of verification, without any delay or concealment.

  • The June report confirms that user assets are fully secured, with a significant spike in Bitcoin reserves.

  • Controversy surrounds trader James Wynn, who is previously known for risky trades and public losses.

Does James Wynn have any claims about Binance hiding Proof of Reserves?

James Wynn, a trader known for risky trades and losses, accused Binance of not timely publishing the new Proof of Reserves report, causing confusion in the community.

This person accuses Binance of not publishing the reports as usual at the beginning of the month. However, the layout and the announcement process have had a consistent schedule for many months, with no signs of delay or concealment.

How does CZ respond to the FUD circulating online?

Changpeng Zhao (CZ) quickly dismissed the information by stating that Binance takes a snapshot of balances on the 1st of each month, but the complete report is published on the 5th or 6th after verification.

Bruh… FUD. 4. Binance usually takes a few days to publish. Usually on the 5th or 6th. The snapshot is taken on the first. Check the history properly please.
Thank you for your attention to Binance. 😆

Changpeng Zhao, CEO of Binance, speaks on X (Twitter), 4/7/2025

CZ's candid response helps reassure the community, emphasizing that transparency is not affected despite unverified rumors circulating.

What does Binance's June Proof of Reserves report show?

The latest report confirms that user assets on Binance are secured at a 1:1 ratio, fully affirming the exchange's financial credibility.

The prominent figure is that Binance's Bitcoin reserves increased from 2,746 BTC in February to 606,080 BTC in June, indicating a strong increase in the exchange's Bitcoin position in recent months. The balances of Ethereum and Solana remain low, reflecting a cautious asset portfolio strategy.

What is James Wynn's background and impact in the cryptocurrency community?

James Wynn is known for high-risk trades and significant failures, such as missing profit opportunities of up to $100 million. He once called for donations to continue trading and supported a token related to Andrew Tate, which has since decreased by 97% from its peak value.

Currently, Wynn is shifting to loud comments on social media but receives negative feedback for making unfounded accusations against Binance.

Good to know! Thank you for so kindly informing those who were wondering / unaware…

James Wynn responds to CZ on X, 4/7/2025

What is CZ's role in the cryptocurrency industry today?

Although no longer holding the official CEO position, CZ remains the leading voice in the cryptocurrency industry, actively defending Binance's reputation and guiding industry development. He continuously addresses rumors and supports strategic initiatives like Nano Labs launching projects that only use BNB as a reserve.

In an interview with Anthony Pompliano, CZ shared his extensive knowledge about leadership, core values, and the future of cryptocurrency, highlighting his irreplaceable role.

For online rumors, he always suggests a simple approach: verify the information and then move on.

Frequently Asked Questions

What is Proof of Reserves (PoR) and why is it important?

PoR is evidence that shows the exchange's reserves, ensuring that users' assets are protected 1:1. This is an important financial transparency indicator adopted by reputable exchanges.

Why does Binance publish Proof of Reserves reports a few days after the 1st of each month?

Binance takes a snapshot of balances at the beginning of the month but spends a few days verifying and preparing the report to ensure accuracy before publishing.

What does the strong increase in Bitcoin in the June report reflect?

The increase in Bitcoin holdings shows that Binance is strengthening its financial position, while also boosting user and investor confidence in its reserves.

How does CZ's response impact the community?

CZ's quick and candid response helps alleviate anxiety caused by rumors while reinforcing Binance's credibility and transparency.

Who is James Wynn and why has his voice lost credibility?

James Wynn is known for his failures in trading and notorious media presence, so his comments are often scrutinized for accuracy.

Source: https://tintucbitcoin.com/binance-bac-cao-buoc-quy-du-tru/

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