Binance's recently disclosed Proof of Reserves report indicates that significant assets for major tokens are over-collateralized.
Welcometo the World of Crypto Reserves!
Crypto exchanges Binance and OKX have recently published their monthly proof of reserves reports. Let's take a peek at their backed assets!
Binance's latest update showcases their impressive crypto reserves, managing 616,886.378 BTC, making up 4.14% of their total Bitcoin holdings. Compared to customer net assets, Binance has a staggering 102.06% ratio, meaning the platform has a surplus of 604,886.378 BTC.
When it comes to USDT, Binance hoards over 29.6 billion, boasting a 102.07% ratio or an impressive surplus of around 600 million USDT.
Interestingly, the platform's Ethereum, Solana, and Ripple reserves also tower above the 1:1 ratio. Binance currently controls 5,289,954 ETH, surpassing its customer net balances by more than 8,000 ETH. The Solana reserves slightly graze over the 100% mark, and the Ripple reserves stand at a whopping 102.99% ratio.
On the Other Hand,
OKX also released their proof of reserves, revealing over 100% assets held for 22 cryptocurrencies! Their largest backed asset is Binance USD, which maintains a reserve amounting to more than double their customer balances, or approximately 206.04%.
The crypto exchange holds more than 8.6 billion USDC, or 152.19% of its customer-held assets. Meanwhile, their FDUSD reserves stand at a ratio of 107.84%, exceeding customer asset holdings by more than 82 million FDUSD.
This Proof of Reserves Business
These statistics are a testament to the exchange's readiness to cover any volume of withdrawal requests, ensuring customer peace of mind. The concept was introduced after the bankruptcy of FTX to instill confidence in the crypto market.
For more information on other exchanges' proof of reserves, check out Kraken (114.9% Bitcoin reserve ratio), CoinEx (100.66% BTC, 100.08% ETH), Bitget (369% BTC, 148% ETH), and BTCC (165% Bitcoin reserve ratio).
[1] Kraken Proof of Reserves Report, March 31, 2025[2] CoinEx Proof of Reserves Report, April 29, 2025[3,5] Bitget Proof of Reserves Report, April 2025[4] BTCC Proof of Reserves Report, April 15, 2025
- Binance maintains a significant surplus of Bitcoins, managing 616,886.378 BTC, making up 4.14% of their total Bitcoin holdings.
- Binance has an impressive 102.06% ratio for customer net assets in Bitcoin, implying a surplus of 604,886.378 BTC.
- In addition to Bitcoin, Binance's Ethereum, Solana, and Ripple reserves also exceed the 1:1 ratio. Binance currently controls 5,289,954 ETH, surpassing its customer net balances by over 8,000 ETH.
- OKX, similar to Binance, has more than 100% assets held for 22 cryptocurrencies, with their largest backed asset being Binance USD, which maintains a reserve amounting to more than double their customer balances.
- Apart from Binance and OKX, other crypto exchanges like Kraken, CoinEx, Bitget, and BTCC have also published their proof of reserves reports, showing significant crypto reserves for various digital assets.
