The founder & CEO of the Binance exchange confirmed that El Salvador’s Bitcoin holding is under a safe roof, not at the FTX-like platform.
El Salvador is the first country in the world, which adopted Bitcoin as a legal tender in September 2021. At this moment, El Salvador holds a total of 2381 Bitcoins. The country purchased Bitcoin 10 times over the one-year time frame and now the country holds Bitcoin at an average price of $43,357.
On 10 November, Changpeng Zhao, CEO of the Binance exchange, quoted & responded to a fake tweet, which claims that El Salvador was holding Bitcoins on the FTX crypto exchange.
Zhao said that he talked about this thing with Nayib Bukele, president & Bitcoin leader of El Salvador, and he confirmed that there were no Bitcoin holdings on FTX exchange by the El Salvador government.
Reportedly Bukele said that neither they have bitcoin on FTX & nor they did any kind of business or related work with this collapsed exchange in the past.
“We don’t have any Bitcoin in FTX and we never had any business with them. Thank God!,” Nayib Bukele said.
In the present time, Binance exchange is working to clear that exchange holding enough crypto assets & reserves to back the exchange from any kind of situation.
On 10 November, Zhao confirmed that the exchange holds 475K BTC, 4.8M ETH, 17.6B USDT, 21.7B BUSD, 601M USDC, and 58M BNB in its reserves.
Binance exchange is working to stand in the crypto industry as a leading & safest platform. Here it is almost confirmed that Binance rival FTX exchange has been destroyed in terms of reputation and now crypto investors have no choice between Binance exchange & Coinbase exchange.