Binance releases 44th proof of reserves report as user BTC holdings rise 1.22%
Latest snapshot showed about 640,296 BTC in customer balances, with ETH and USDT holdings lower and reserve ratios for major assets still above 100%; separate reporting rounded reserves to 640,269 BTC and 4 million ETH.
Binance said its 44th Proof of Reserves report showed customer Bitcoin holdings of about 640,296 BTC, up 1.22% from the previous report. Customer Ethereum holdings fell about 1.4% to roughly 4.08 million ETH, while Tether holdings declined 1.51% to 33.7 billion USDT. Binance said reserve ratios for major assets remained above 100%, including 100.08% for BTC, 100.00% for ETH, 103.49% for USDT, 100.83% for BNB, 100.00% for SOL, 108.67% for USDC, 103.03% for USD1 and 101.06% for XRP. Separate reporting described Binance as holding 640,269 Bitcoin worth more than $40 billion and about 4 million ETH worth roughly $7.3 billion, figures that appear to be rounded versions of the reserve snapshot and illustrate the scale of assets held on the platform. Binance says its proof-of-reserves system, introduced after FTX's collapse, helps users verify that listed liabilities are backed by on-chain assets, though such snapshots are not a full financial audit.
- Proof of Reserves: A disclosure method exchanges use to show customer liabilities are backed by assets held at the time of a snapshot.
- Merkle Trees: A cryptographic structure that helps users verify their balances were included in a larger liability dataset.
- zero-knowledge proofs: A cryptographic technique that allows verification without revealing the underlying sensitive data.