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Friday, February 3, 2023

Nansen Has Taken Stock Of Several Exchanges With The Collapse Of FTX

With the collapse of FTX, the cryptocurrency exchange, it should come as no surprise that most of the industry peers have started calling for transparent accounts of the assets and the token holdings under different managements.

Nansen, a blockchain analytics platform, that deals in providing industry insights and is generally known for having a wallet-labeling feature that is used to track addresses through multiple blockchains, put a list of seven major exchanges in a series of tweets that were posted on the 15th of November, along with their relevant portfolios, as well as an explanatory statement of accounts. 

Nansen Has Uploaded A List Of Blockchain Addresses

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This action by Nansen can be seen to be quite poignant, considering how most of the major cryptocurrency exchanges like Huobi, Binance, OKX, and Crypto.com have already started making efforts in sharing the details of their portfolios and assets to assuage the wider space. This development comes after the confidence that investors previously had seemed to be shaken up, with users throughout the ecosystem moving Bitcoin and several other tokens off exchanges to avoid being associated with the fallout of FTX

To put it simply, Nansen has been providing the net worth and the assets of the exchanges which are also the sum of holdings in wallet addresses that have been provided by the firms on blockchains that are usually monitored by the platform. The platform has also noted that the figures are definitely not a complete or exhaustive statement of the actual reserves and assets held. The exchange also accounted for the inclusion of Crypto.com, OKX, Binance, Deribit, KuCoin, Huobi, and Bitfinex. Binance, the largest global exchange simply by the volume of transactions, holds around $64.3 billion worth of assets across the blockchains of Tron, Ethereum, Bitcoin, and BNB Chain.

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