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Binance posts June 1 proof of reserves with BTC and ETH holdings higher

Binance posts June 1 proof of reserves with BTC and ETH holdings higher

Binance’s 43rd reserve snapshot showed user Bitcoin rising to about 630,000 BTC and Ether to about 4.14 million ETH from May 1, while USDT balances fell to about 34.3 billion.

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Fact Check
The Wu Blockchain X post, crypto.news, Cryptobriefing, and Odaily all independently report the same 43rd PoR June 1 snapshot figures matching the claim: BTC rising to ~630,000 (+4.26%), ETH to ~4.14 million (+10.17%), and USDT falling ~1.33% to ~34.3 billion. The numbers are consistent down to the deltas (+25,838 BTC, +382,619 ETH). The official Binance PoR page confirms the program exists. These are self-reported, unaudited figures, but the descriptive claim about what the snapshot reported is well-corroborated.
Summary

Binance released its 43rd proof of reserves report with a June 1 snapshot date, showing higher user balances in Bitcoin and Ether compared with May 1, while Tether holdings declined. User BTC holdings were about 630,000, up 4.26% or 25,838 BTC. User ETH holdings were about 4.14 million, up 10.17% or 382,619 ETH. User USDT holdings were about 34.3 billion, down 1.33% or about 460 million USDT. The report provides a point-in-time disclosure of assets held for users; higher balances may indicate users are keeping more assets on the exchange, while also leaving them exposed to counterparty risk and making reserve-and-liability verification important.

Terms & Concepts
  • proof of reserves: A disclosure showing assets an exchange holds on behalf of users at a specific point in time.
  • USDT: A dollar-pegged stablecoin issued by Tether.
  • counterparty risk: The risk that a custodian or intermediary fails, affecting access to user assets.