Binance announced its 38th Proof of Reserves report, sharing the current status of user assets on the platform. According to the report, the amount of Bitcoin held by the user is confirmed to be approximately 618,000 BTC.
According to data released by the company, BTC reserves increased by 8,607 BTC (1.41%) compared to the previous report. The on-chain wallet balance was 636,914 BTC, of which 618,696 BTC was held directly in exchange wallets and 18,218 BTC was held in third-party custodial services. Therefore, the BTC coverage rate remained at 100.06%, maintaining the appearance of being fully collateralized.
On the Ethereum side, user holdings reached 4.17 million ETH, an increase of 328,666 ETH (8.55%). Stablecoin reserves also continued to increase. Users’ USDT balance reached approximately 38.2 billion USDT, an increase of approximately 1.06 billion USDT, or 2.86%. The USDT coverage rate was 101.69%.
This report also includes detailed information about BNB, SOL, XRP, USDC, and other asset classes. Some important findings are:
- BNB: Exchange balance 43.56 million, third party storage 712,000. Coverage rate 100.87%.
- SOL: Exchange balance 26.24 million, third party custody 216 thousand. Ratio 100%.
- XRP: Exchange balance 2.45 billion, third party storage 143 million. The ratio is 100.77%.
- USDC: Exchange balances are $7.58 billion and third-party custodial balances are $50 million. The ratio is 101.49%.
*This is not investment advice.
