Crypto.com Holds 20% of Its Reserves in Meme Token SHIB

InfoNesia.xyz – Notable cryptocurrency exchange Crypto.com revealed today that it holds 20% of its reserves in the Shiba Inu (SHIB) token—a highly speculative “meme coin.”

Data from blockchain analysis firm Nansen shows that the platform holds the largest share (31%) of its digital assets in Bitcoin, followed by SHIB at 20%. Nansen’s data reveals that Crypto.com has about $570 million worth of the Ethereum-based meme coin.

Crypto.com’s reserves also feature a significant quantity of Ethereum itself, making up about 17% of the firm’s holdings, while the Tether (USDT) and USDC stablecoins each make up about 5% of the exchange’s reserves. Various other cryptocurrencies and tokens collectively account for another 20% of the total.

Crypto.‌com Pauses Withdrawals of USDC and USDT on Solana

Cryptocurrency exchange Crypto.com wrote to customers today in an email seen by Decrypt to notify them that all deposits and withdrawals for Tether’s USDT and Circle’s USDC have been suspended…

The exchange revealed its reserves through an array of wallet addresses, which Nansen then collected into a single dashboard. Crypto.com CEO Kris Marszalek confirmed the data from the dashboard via a tweet, and said that the exchange will provide additional details on its complete holdings in the next couple of weeks.