Binance Becomes The Most Crypto Trading Company In The World With The Most Bitcoins Worth IDR 142 Trillion In BTC

JAKARTA The world's largest crypto trading company by trading volume, Binance, is reportedly a crypto exchange that has the largest Bitcoin reserves among global crypto exchanges.

According to a report from an analytic firm CryptoQuant, Binance has 584,083 BTC worth about $9 billion. Binance, with this number of holdings, managed to surpass US-leading crypto trading company Coinbase.

CryptoPotato recently reported that cryptocurrencies worth more than $8 billion have been withdrawn from the centralized exchange following the collapse of FTX. Now, the data suggest that Binance has the largest BTC reserves for the first time.

While most other exchange reserves are down, not many or fewer, for the first time, Binance has surpassed Coinbase Pro to occupy the top spot in terms of Bitcoin reserves on the exchange, marking absolute power during this bloody period, according to a crypto analyst at CryptoQuant, named BinhDang.

Analysts also concluded that every step CZ will play the most important role in regaining trust in this market, and vice versa; if he makes any mistake, it will be a colossal bloody disaster for the whole market," the analyst added.

He also explained that there are five crypto exchanges that have the largest Bitcoin, Binance is in first place with 584,083 Bitcoin holdings BTC, followed by Coinbase which owns 533,048 BTC, Bitfinex 345,534 BTC, Gemini 158,918 BTC, and Kraken own 71,426 BTC.