Richard Teng: Binance Proof of Reserves Now Covers 44 Tokens, With 98% of Impacted Assets Replenished

Binance co-CEO Richard Teng said the exchange’s latest Proof of Reserves snapshot now covers 44 tokens, up from 10, so users can independently verify that more of their assets are backed at least 1:1.Generating the full zero-knowledge proof takes 50 to 60 hours of computation. Teng said the wait serves an important purpose: “letting users verify the backing of their own balances, rather than simply taking our word for it.”Binance has now replenished about 98% of impacted assets, Teng said. The exchange is buying the remaining, less liquid tokens “carefully through market and OTC channels to avoid moving prices as we close the gap.”Binance’s next steps are fully reopening withdrawals and strengthening safeguards, he said, adding that he will keep sharing progress.