Binance Reports Decrease in Bitcoin and Ethereum User Holdings in March Proof of Reserves
Binance's 40th Proof of Reserves confirms user assets remain 1:1 backed, with a decrease in Bitcoin and Ethereum holdings compared to February.
BTC
ETH
USDT
Fact Check
The claim is directly supported by detailed reporting on Binance's 40th Proof of Reserves. According to the Phemex News report (https://phemex.com/news/article/binance-releases-40th-proof-of-reserves-shows-decline-in-btc-eth-and-usdt-64996), the March 1, 2026 snapshot confirmed a 1.25% decrease in user BTC holdings (to 631,000 BTC) and a 7.35% decrease in user ETH holdings (to 3.87 million ETH) compared to the February report. The report also noted a slight decrease in USDT holdings. These PoR reports are specifically designed to demonstrate that user assets are backed 1:1.
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Summary
Binance’s 40th Proof of Reserves, dated March 1, confirms that user assets remain fully backed at a 1:1 ratio. Bitcoin holdings decreased by 8,004 BTC (1.25%), Ethereum holdings fell by 307,203 ETH (7.35%), and USDT dropped by 360 million. Despite these decreases, Binance remains transparent with its on-chain asset verification.
Terms & Concepts
- Proof of Reserves (PoR): A transparency report where crypto exchanges verify that user deposits are fully backed by on-chain assets.
- Snapshot: A recorded state of blockchain or user balances at a specific date and time, used to verify asset holdings.
- Asset Reserves: Funds held by an exchange to back customer deposits, demonstrating solvency and transparency.