He Yi: Binance buying stolen altcoins to complete proof-of-reserves
- —Binance is buying the stolen altcoins via OTC and spot markets
- —The goal is full asset coverage for proof-of-reserves
- —SAFU and exchange reserves hold large BTC and ETH balances
- —Binance will share another update after purchases finish
Why it matters: It signals Binance is covering hack losses with real assets rather than stablecoins alone, easing concerns about a reserve shortfall.
Source: ChainCatcher 链捕手