Binance reveals proof of reserves for October, showing 21K Bitcoin holdings
The exchange’s proof of reserves highlights stronger backing for Bitcoin, BNB, XRP, and major stablecoins compared to Ethereum and Solana.
Photo: Binance
Key Takeaways
- Binance’s proof of reserves shows surpluses in BTC, BNB, XRP, and major stablecoins.
- ETH and SOL remain fully backed at 100%, reflecting a conservative reserve approach.
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Binance revealed its October proof of reserves, showing it held over 100% of user deposits across all major assets, with several tokens maintained at a surplus. Bitcoin reserves alone include an excess of about 21,000 BTC.
The exchange’s latest audit shows surpluses of 103% for Bitcoin, 112% for BNB, and 102% for XRP, along with 106% for USDT, 125% for FDUSD, and 148% for USDC, while Ethereum and Solana holdings remain fully backed at 100%.
Binance’s proof of reserves highlights the importance it places on maintaining surplus backing for Bitcoin, BNB, XRP, and major stablecoins, while Ethereum and Solana holdings are conservatively maintained at exact 1:1 coverage.
