Quote from: T0asti on November 18, 2022, 03:32:50 PM

Consolidation or not this is the first time we know for a fact that Binance
is holding at least 570,000 Bitcoin in their wallets. (again up ~3000 from when I shared this post)

This fact alone is crazy imo.

This is more sad than crazy. It shows that a large number of people still keep their coins on exchanges, in other words despite all the recent withdrawals the people with balance on exchanges are still at large. This is the same with other exchanges too, not just Binance.

The problem is with the site you posted in your first post, they don't know all the addresses of each exchange so they have no way of knowing how much coins each one actually has. They go with what is publicly known and that is what the exchange wants them to know!
So for example if Binance wants us to know they have 100k bitcoin, that is what they put in their publicly known addresses and if they want us to know they have 500k (proving they are solvant) they increase its balance.
It is sometimes done in competition with other exchanges too. For example Binance wants to look bigger than KuCoin so they show more of their balance, if they want to evade taxes they reveal less of their balance!