Binance, the world’s largest cryptocurrency exchange by trading volume, has released its latest Proof of Reserves (PoR) update, reinforcing its commitment to transparency amid heightened industry scrutiny. The exchange confirmed that all user balances are backed on a 1:1 basis, with reserve ratios exceeding 100% for all major assets.
According to the snapshot, users’ Bitcoin holdings grew by 2.7% from the previous report to approximately 658,293 BTC, while Ethereum holdings dipped 2.3% to around 3.9 million ETH. USDT balances contracted 2.4% to 34.1 billion USDT. The reserve ratios stood at 100.25% for BTC, 100.25% for ETH, 103.62% for USDT, 100.82% for BNB, 100.00% for SOL, 107.64% for USDC, 112.80% for USD1, and 100.84% for XRP. The report also covered over 30 other assets, including altcoins like BCH, DOT, ARB, and APT, all showing ratios above 100%.
The enhanced PoR mechanism now allows users to independently verify the backing of their assets in real time, a move designed to build trust and attract more traders. This development comes as exchanges face increasing demands for accountability, and it may positively influence user engagement and trading volumes on Binance in the coming weeks.
