Binance trade printed its twenty ninth Proof of Reserves snapshot report, based mostly on the one taken on April 1, 2025. The report suggests there was a drop in a number of the largest cryptocurrencies carried by customers within the platform relative to final month.
Primarily based on the figures, Binance clients’ Bitcoin (BTC) holdings at the moment are at 612,675 BTC. That is down by 15,577 BTC (2.48%) from the March 1 tally. Ethereum (ETH) holdings have additionally dropped to five,465,167 ETH. It represented a lower of 152,248 ETH round 2.71% from final month.
USDT holdings registered the largest share decline amongst key property, decreasing by 1.08 billion tokens (3.67%) to twenty-eight.32 billion USDT. In comparison with these declines, the native token of Binance, BNB, was the one vital cryptocurrency whose holdings elevated.
Bitcoin trade reserves drop 15,577
The April 1 snapshot reveals that Bitcoin reserves on Binance stand at 612,675 BTC, with a collateralization ratio of 100.99%. This ratio signifies that Binance holds barely extra Bitcoin than required to totally again all buyer deposits.
The trade maintains 618,757 BTC in complete web balances, with 605,936 BTC held immediately on the trade and 12,821 BTC in third-party custody.
Supply: Wu Blockchain
Ethereum holdings comply with an analogous sample, with buyer web balances of 5,465,167 ETH backed by Binance web balances of 5,466,653 ETH. The trade retains 5,285,682 ETH on its platform and 180,971 ETH with third-party custodians.
USDT, which noticed the biggest share lower amongst main property, maintains a wholesome collateralization ratio of 104.42%.
Buyer web balances of 28,320,546,024 USDT are backed by Binance web balances of 29,572,017,129 USDT. The bulk round 28,890,216,271 USDT was held on the trade. Whereas there was 681,800,858 USDT in third-party custody.
BNB was the one main asset to see development within the April snapshot. Buyer holdings elevated to 39,536,866 BNB, backed by Binance web balances of 44,097,353 BNB. Practically all BNB (44,064,761) is held immediately on the trade, with solely 32,591 BNB in third-party custody.
Altcoin and stablecoin reserve modifications
Along with main cryptocurrencies, the proof of reserves report from Binance additionally reveals data on a number of altcoins and stablecoins sitting on the platform.
Solana (SOL) reserves throughout the trade equate to clients’ web positions of 25,938,721 SOL backed by a 100.04% collateralization ratio. Straight on trade, there may be 25,615,708 SOL, together with 333,985 SOL in third-party custody.
Stablecoins apart from USDT have differing reserve and collateralization ranges. USDC has the best collateralization ratio at 145.04%, buyer balances of 4,787,658,119 USDC collateralized by 6,943,870,159 USDC in Binance web balances. FDUSD is at a sturdy 109.64% ratio, and TUSD is at 102.45%.
Dogecoin (DOGE) possesses buyer balances of round 15.2 billion DOGE and a collateralization ratio of 111.64%. This places it within the ranks of the property with above-average backing on the platform.
Different altcoins within the report embody:
- XRP: 2,574,947,371 in buyer balances with a 103.79% collateralization ratio
- DOT: 137,981,565 in buyer balances with a 104.79% ratio
- LINK: 66,985,355 in buyer balances with a 100.34% ratio
- LTC: 6,648,918 in buyer balances with a 109.13% ratio
SHIB exhibits large buyer holdings exceeding 56 trillion tokens with a 100.53% collateralization ratio. The TRUMP coin exhibits buyer balances of 45,556,616 tokens with a 100.60% ratio, whereas SUI holds 371,025,478 tokens in buyer balances with a 100.97% ratio.
Proof of reserves methodology and safety measures
Binance trade’s proof of reserves mechanism is predicated on Merkle Tree verification to allow customers to confirm independently that their property are a part of the trade’s reported quantities. The method includes producing cryptographic proofs that attest to buyer funds being current within the trade wallets with out exposing delicate person knowledge.
For the April 1 snapshot, Binance continued to have its set verification course of in place, which covers each trade balances and third-party custody preparations.
The 2-custody mannequin is a threat administration process, with most funds held in exchange-controlled wallets for operational causes, and reserves held with trusted third-party custodians.
The report signifies disparate distributions between trade balances and third-party custody by asset. For Bitcoin, round 97.9% of reserves are on the trade immediately, and simply 2.1% are in third-party custody. The identical holds for ETH (96.7% on trade) and BNB (99.9% on trade).
Sure property exhibit extra substantial holdings in third-party custody. Within the case of PEPE, as an example, buyer balances complete over 94 trillion tokens whereas 176 trillion tokens are in third-party custody.
