India’s WazirX Publishes Proof Of Reserves, Shiba Inu (SHIB) As Largest Holding

India’s largest crypto exchange WazirX has released its proof-of-reserves (PoR) and has a reserves-to-liability ratio of over 1:1, the company said on Wednesday. WazirX reports reserves worth $286.10 million, with Shiba Inu (SHIB) token as the highest holding worth almost $54 million.

WazirX announces 286 million dollars in reserves.

Crypto exchange WazirX in a January 11 reported that he released his proofs of reserves, with total assets of USDT 286.10 million. In order to increase transparency and trust, the crypto exchange has made public its wallet addresses, list of exchanges, and proof-of-reserves report.

"At wazirx, safety and security of user funds is our highest priority. Keeping this in mind, we have made our wallet addresses, list of exchanges, & independent #ProofOfReserves report public.”

According to the , WazirX has reserves worth $286.10 million, with $259.65 million worth of crypto assets on the exchange and $26.45 million on the blockchain. The first 5 reservations held are 6.09 trillion shiba inu (shib), 1.356.54 btc, 20.072.54 eth, 303.32 million doge, and 16.53 million matic. In addition, the wrx token reserves native to crypto exchange are 95.67 million, with a value of close to 14 million dollars.

Following the publication of its report by wazirx, it claimed to have sufficient reserve funds to meet the needs of the user in unexpected situations. In addition, crypto trading has over a 1:1 ratio of reserves to liabilities. Wazirx has now become the biggest crypto exchange in India through reservations.

Wazirx has already made a commitment to share his evidence of reservations. It said the trading volume has dropped 76% from $43 billion in November 2021 to $10 billion in 2022 amid the government’s move on crypto tax and

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Indian Crypto Exchange Move To Release PoR

In December last year, crypto exchange CoinDCX published its proof-of-reserves report, with a total holding of $143.99 million. The report also found shib, matic and doge among the five major farms. Therefore, it indicates that these tokens are primarily favoured by Indian users.

SHIB price is currently trading at $0.00000896, up 2% in the last 24 hours amid the anticipated launch of the Shibarium blockchain.

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