Binance, the world’s leading cryptocurrency exchange by trading volume, has maintained a reserve ratio above 100% for 30 consecutive months. The latest snapshot, taken at Bitcoin block height 894,668, revealed Binance holds 616,886 BTC to back customer net balances of 604,410 BTC, resulting in a robust reserve ratio of 102%.
Binance’s Proof-of-Reserve (PoR) initiative was launched in November 2022, directly in response to the catastrophic collapse of FTX, which exposed severe mismanagement of user funds. Since then, Binance has consistently published monthly attestations, with verifications from on-chain experts and third-party auditors like Mazars.
CryptoQuant analyst Maartun, who reviewed Binance’s latest snapshot, highlighted the importance of this sustained track record. “Since publishing their first Proof-of-Reserve report in late 2022, Binance has consistently maintained a reserve ratio above 100%,” he wrote. “This shows a strong asset backing and ongoing commitment to transparency.”
Of the total 616,886 BTC held, Maartun’s analysis shows that 603,374 BTC are held on-chain, with an additional 13,512 BTC residing in third-party custody on the BNB Smart Chain as BTCB.
This impressive streak follows a period in March when Binance faced rumors of selling its BTC for USDC. As previously reported by CryptoPotato, the exchange’s reserve ratio had already been on a 29-month run above 100%. CryptoQuant’s analysis at the time helped to dispel those allegations, confirming that all figures presented by Binance aligned with on-chain data.
Independent audits have further validated Binance’s transparency claims. In July of last year, Mazars independently confirmed that Binance held 101% of customers’ BTC deposits, reinforcing the integrity of its Merkle tree-based PoR system.
