Binance Has Over $39 Billion Worth of BTC



In response to a now-deleted tweet from the CEO of Binance, Coinbase's CEO reveals that the company has over $39 billion worth of bitcoin.

Brian Armstrong, the CEO of Coinbase, has disclosed that his business has crypto reserves, including over 2 million BTC worth roughly $39.9 billion, as major crypto exchanges step up their attempts to reassure users and investors of their stability.

The CEO tweeted, referring to the firm's announced financial statistics for the third quarter of this year, "We have 2M BTC. $39.9B value as of 9/30."

The entrepreneur pointed his followers to Coinbase's shareholder letter for the same time period in 2022 as well.

Coinbase published poor statistics for the period of July to September 2022, with a net loss of almost $545 million amid a decline in the cryptocurrency industry.