Binance conducted a standard audit of reserves, according to which customer funds are secured by more than 100%.

At the time of March 9, 2024, 580,464 BTC and 4.12 million ETH were stored on the platform, while 562,690 BTC and 3.98 million ETH were in customer accounts. This means that clients' assets in BTC and Ethereum are secured by 103.1% and 103.4%, respectively.

Customer funds on the exchange are 100% secured, as confirmed by data from Binance. It is also worth noting that users' funds in stablecoins are secured by more than 110%. For example, for USDT, this figure is 110.66%, for FDUSD — 112.44%, and for USDC — more than 131%.

According to information from Binance, the provision of reserves in the TUSD stablecoin reached a record high of 198.1%, which means that client funds in the amount of 140.8 million TUSD are secured by assets of almost 280 million TUSD.

In addition, the crypto exchange conducted an audit of reserves in other cryptocurrencies such as OP, CHZ, DOT, ARB, LINK, GRT, 1INCH, MASK, HFT and others. The collateral for each asset also exceeds 100%.

This is the sixteenth audit of Binance. The company first announced the publication of evidence of reserves in November 2022.

Binance implemented this practice after the bankruptcy of FTX to demonstrate its willingness to cover customer withdrawal requests. As previously reported, Binance launched the Futures NEXT prediction platform and processed more than 380,000 requests, returning $4.35 billion to users.