Binance, the world's largest cryptocurrency exchange by trading volume, has released its 30th proof-of-reserves (PoR) report showing holdings of $58 billion in Bitcoin and $82 billion in other cryptocurrencies.
Overview of Binance Reserves
A snapshot taken on May 1, 2025, provides a detailed overview of user asset holdings and reinforces trust in the platform following industry-wide calls for accountability since the FTX collapse in 2022.
Asset Dynamics
According to data shared on the exchange's official website, Bitcoin (BTC), along with Ethereum (ETH), BNB, Solana (SOL), and XRP, remains the largest holdings. However, the total Bitcoin holding has decreased to 612,675 BTC, valued at $58 billion at the current price level, indicating potential user withdrawals or sales.
Rising Demand for Stablecoins
In contrast, user holdings of Tether (USDT) surged by 2.61%, reaching 29.05 billion USDT, equivalent to $29 billion. This increase highlights a growing preference for stablecoins, likely as a hedge against cryptocurrency price volatility or macroeconomic pressures.
According to CoinMarketCap data, Binance's total user assets are estimated at $140 billion. The exchange utilizes zero-knowledge cryptography and Merkle Tree audits to ensure all user balances are accounted for, excluding the firm's corporate holdings from PoR calculations.
