Poloniex also keeps 100% of that 24 million Steem liquid. Not a penny is in savings (for added security), so they are one stolen key away from catastrophe.
Bittrex at least appears to have tested the 'savings' option with a total of 15 Steem lol.
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Not they. We do.
Is this actually the number of steem on those exchanges?, why not lock it in a wallet or steem it?
Sounds like Fractional Reserve Banking??..
There's nothing to say they don't have a full reserve. The problem is that their entire reserve can be moved in a single transaction, instantly, and it wouldn't be possible to reverse/stop it. They would have an added layer of security if they would put some of the funds into 'savings', which is kind of like the crypto equivalent of a time-locked vault.