Binance has a reserve ratio of 101%. It means that the company has enough Bitcoins to cover all users' balances.

Cryptocurrency exchange Binance will delist three Serum (<a href="https://www.coindesk.com/price/serum/" target="_blank">SRM</a>) trading pairs as the fallout from FTX's collapse continues, according to an <a href="https://www.binance.com/en/support/announcement/notice-of-removal-of-trading-pairs-2022-11-28-f88299165488493cba3e53208c19080d" target="_blank">announcement</a> on Friday.

The Binance CEO said the FTX management lied about not taking user money, saying it was a sort of a Ponzi scheme. He said all industries go through ups and downs in early phase. All the new industries have successful and failed projects, he explained. On the flip side, CZ said the Terra Luna project was mismanaged similar to the Lehman brothers.&nbsp;

The Huobi Token (HT) recorded 64% gains, rising from a local bottom of $3.70 on Nov. 13 to a price of $6.06 at the time of press.

As per the recent <a rel="nofollow" href="https://twitter.com/WuBlockchain/status/1596116422140129282">tweet</a> from WuBlockchain, the launch of this feature will start initially with BTC, then move to other tokens and networks being added in the next couple of weeks. In addition to this, <a href="https://coingape.com/glossary/binance/">Binance</a> will also implement ZK-SNARKs for PoR later to improve privacy and robustness.

Crypto exchange Binance has allocated another $1 billion for its crypto recovery fund, <a href="https://www.coindesk.com/business/2022/11/25/binance-allocates-another-1b-for-its-crypto-recovery-fund/">increasing the size</a> of the fund to over $2 billion. Aptos Labs, Jump Crypto and other prominent crypto companies joined the exchange’s initiative and will contribute $50 million to it. The increase comes a day after Binance CEO <a href="https://www.coindesk.com/business/2022/11/24/binance-targets-1b-recovery-fund-for-distressed-crypto-assets-bloomberg/">CZ </a>announced the fund.

Binance has committed $2 billion to the firm’s crypto rescue fund as it aims to help rebuild the industry. Binance founder and CEO Changpeng Zhao said the so-called Industry Recovery Initiative (IRI) would possibly buy up some of the ailing crypto projects acquired by the now-defunct exchange FTX.

Top cryptocurrency exchange Binance, in a recent announcement, unveiled the Merkle tree Proof of Reserves (PoR) system.

Binance has released its proof-of-reserves system, starting with bitcoin, in order to show that the exchange is healthy and solvent.

The major cryptocurrency exchange, Binance, recently announced a collaboration with Web3 leaders. The integration will place them at the helm of Web3 IRI (Industry Recovery Initiative).