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Binance announced it has reserved over $6.34 billion in company funds to cover past incidents that affected user assets.
Binance announced it has set aside over $6.34 billion in company funds to cover incidents that previously affected user assets. The exchange also reported holding $5 billion in affected token assets and assisting in freezing $3 billion with industry partners. Binance is working with law enforcement to recover affected assets and stated that all user funds will be publicly verifiable through its Proof of Reserves. These figures do not include additional frozen or protected assets currently undergoing verification.
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