Binance says its vaults hold 102 % of customers’ Bitcoin and a hefty 206 % cushion in BUSD—excess reserves meant to silence post-FTX jitters.
The May 8 proof-of-reserves snapshot (Binance’s 30th) shows surpluses across 37 assets, verified with zero-knowledge proofs and Merkle trees, offering traders the transparency regulators have yet to mandate.
Other tokens like ETH, USDT, and SOL maintain their reserves above the 1:1 target. Crypto reserve surpluses also ensure the platform can honor withdrawal requests without drawing on corporate funds. Binance’s 30th monthly Proof-of-Reserves (PoR) report, captured on May 1, broke down changing customer balances.
The report details reserves for the 37 assets, including 616,886 BTC, which exceeds the 604,886 Bitcoins held by users.
Additionally, BNB balances dipped 0.74% to 39.24 million, about $23 billion. At the same time, USDT deposits rose 2.61% to 29.05 billion, indicating a shift toward dollar-pegged tokens amid market turbulence. Non-Bitcoin assets altogether stood at nearly $82 billion.
At press time, Binance users held Bitcoin valued at $58 billion, down 1.35% from April, while 5.28 million ETH slid 3.36% to roughly $9.5 billion.
PoR statements have become the sector’s preferred transparency tool after FTX collapsed in 2022.