Indian Crypto Exchange WazirX PoR Reveals Massive SHIB Holding

WazirX Proof of Reserves Reveals Massive SHIB Holding

January 11, 2023 Story: Divya Sinha

Indian crypto exchange WazirX released its Proof of Reserves on Wednesday which details that it has total holdings of $286.10 million.

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The company’s blog post mentions publishing its Proof of Reserves to promote full transparency in India’s crypto ecosystem.

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Also, WarirX has made its wallet addresses, list of exchanges, and an independent Proof of Reserves report available to the public.

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Further it details that WazirX’s reserves-to-liabilities ratio remains more than 1:1 which means sufficient liquidity for users in case of withdrawal.

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The company's highest holding is Shiba Inu which has a total of 6.09 trillion SHIB tokens, worth $54.2 million.

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ED had searched WazirX for alleged violation of the Foreign Exchange Management Act.

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WazirX in a tweet wrote that it is India's largest Crypto Exchange by Reserves.

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