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Binance's 19th Proof of Reserve Report: Transparency in Crypto Assets

Jun 6, 2024

Binance, acknowledged as the largest cryptocurrency exchange globally, has recently disclosed its 19th proof of reserve to enhance transparency regarding the assets under its management. The snapshot, captured on June 1, highlighted noteworthy shifts in user holdings across various cryptocurrencies. User holdings in BTC saw a substantial rise of 534 BTC from the previous month, reaching a total of 582 thousand BTC. The ratio of customer net balances to Binance net balances was reported at 106.70%, with Binance holding a sum of 621,329,612 BTC. Of this, the exchange balance accounted for 602,614,161 BTC, while an additional 18,715,451 BTC was entrusted to third-party custody. User holdings in ETH surged to 4.664 million, marking a notable increment of 7.02%. The ratio of customer net balances to Binance net balances for ETH stood at 103.75%, with Binance's total ETH reserves amounting to 4,839,669,546. Within this, the exchange balance was recorded at 4,644,831.7 ETH, while 194,837.846 ETH was secured in third-party custody. User holdings in USDT experienced a decline of 3.38% to 22.08 billion. Despite this drop, Binance's asset reserves maintained robustness at $124.69 billion, even amidst a net outflow of $1.54 billion compared to the prior month. The report also furnished insights into other cryptocurrencies. SOL assets reflected a balance of 103.67%, with client net balances at 32,430,253,765 and Binance net balances at 33,620,213,365. XRP holdings exhibited a ratio of 101.17%, DOGE holdings at 100.52%, and SHIB holdings at 103.49%. Noteworthy figures include a total of 14.1 billion DOGE, 62 trillion SHIB, and 2.9 billion SHIB in the exchange's portfolio. It's imperative to note that the information provided does not constitute investment advice.

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