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Huobi, the Seychelles-based crypto exchange, recently became the latest digital asset exchange platform to reveal the number as well as the value of its digital assets held in reserves. Huobi has said disclosing the assets held in reserves helps to boost users\u2019 confidence in the exchange as well as to improve transparency.<\/strong><\/p>\n The Seychelles-based cryptocurrency exchange, Huobi, became the latest digital asset exchange to attempt to assuage users\u2019 anxieties when it unveiled its so-called \u201cproof of reserves\u201d on Nov. 12. As shown in Huobi\u2019s \u201cinexhaustive overview\u201d of digital assets held, the crypto exchange had about 32,000 BTC<\/a>, 274,000 ETH<\/a>, and 820 million USDT<\/a> stablecoins, as well as 9.7 billion TRX<\/a> tokens.<\/p>\n In addition to disclosing the U.S. dollar value of digital assets held \u2014 $3.5 billion \u2014 Huobi also shared a snapshot of the list of addresses where the funds are being kept. Huobi\u2019s revelation of digital asset holdings came just two days after FTX, accused of misusing crypto clients\u2019 funds, filed for bankruptcy<\/a>.<\/p>\n In a statement<\/a>, Huobi, which was acquired by the About Capital buyout fund in October, suggested that such disclosure helps to reassure concerned users. Before Huobi unveiled its proof of reserves, other crypto exchanges like Binance, Crypto.com, Deribit, Kucoin and Okx have all given their respective<\/a> proof-of-reserves (POR) via Merkle tree and full audits. As noted in the report, when crypto exchanges display PORs, this enables users to track their token holdings and transactions.<\/p>\n<\/p>\n Meanwhile, the crypto exchange said it would further boost user confidence by making the display of PORs a routine practice going forward.<\/p>\n \u201cTo further enhance users\u2019 confidence and accelerate our efforts in improving transparency, we are working to perform another Merkle Tree Proof of Reserves audit with a third party within 30 days,\u201d the crypto exchange said in a statement.<\/p>\nHuobi\u2019s \u2018Inexhaustive Overview\u2019<\/h2>\n