Binance Updates Proof of Reserves with Improved Reserve Ratios

Binance, one of the largest cryptocurrency exchanges in the world, has updated its Proof of Reserves (PoR) page to reflect the reserve status of user assets. The exchange stated that all user balances on the platform are backed at a 1:1 ratio and that the reserve ratio is above 100% for many assets.

The report includes various major assets such as Bitcoin, Ethereum, USDT, BNB, Solana, USDC, XRP, and others. According to the report, the stock exchange's reserve ratios remained above 100% for all major assets, including a rate of 100.84% for XRP.

The update also reveals that users' Bitcoin holdings increased by 2.7% compared to the previous report, reaching approximately 658,293 BTC, while their USDT holdings decreased by 2.4% to 34.1 billion USDT. On the other hand, users' Ethereum holdings saw a 2.3% decrease, falling to approximately 3.9 million ETH.

It's worth noting that Binance has maintained its transparency in updating its PoR page regularly, allowing users to have a clear view of their assets' reserve status.