Huobi reports on asset transparency, totals $3.5 billion in hot and cold wallets

Quick Take

  • Huobi revealed holdings of $3.5 billion in hot and cold wallets for the sake of transparency.
  • Huobi’s report follows the high-profile collapse of crypto exchange FTX.

Huobi disclosed balance details of its hot and cold wallets, revealing a total value of about $3.5 billion.

The Seychelles-based crypto exchange said it holds 32,000 bitcoins, 274,000 ether, 820 million tether and 9.7 billion tronix.

Huobie — which was acquired by About Capital last month — said it is planning a Merkle tree audit to prove its reserves within the next 30 days. "It is also our promise and commitment that users' assets shall be protected intact, not appropriated, and fully redeemable and withdrawable," it added.

On Friday, crypto exchange Bitfinex also published details of its reserves — which included $3.4 billion in bitcoin and $1.5 billion in ether. Other major crypto exchanges have also shared or promised to share proof of their reserves following the high-profile collapse and subsequent Chapter 11 bankruptcy protection filing from crypto exchange FTX.

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