The Bitcoin balance of Binance, the world's largest cryptocurrency exchange, has more than doubled over the past 10 days, nearing 600,000.
According to data by crypto analytics platform Coinglass, Binance currently holds over 575,000 BTC coins, having added more than 137,011 coins just over the past week and a total of 67,347 BTC coins over the past month.
With Bitcoin currently hovering around the $16,000 mark, Binance's stack of BTC is worth over $9.2 billion. The recent spike in Binance's stash of BTC comes as ostensibly consumer confidence in other smaller exchanges continues to exacerbate following the unprecedented crash of FTX.
Coinbase Pro, Bitfinex, Gemini, and Kraken are the next fourth largest holders of Bitcoin after Binance, as per Coinglass, respectively holding 528,900, 345,597, 153,212, and 70,622 coins.Read more on cryptonews.com