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Cryptocurrency exchange Binance published its 37th Proof of Reserves report dated December 1.
According to the report, while there were notable changes in user assets, the exchange generally maintained reserve ratios that more than covered customer balances.
In Binance’s latest snapshot, user balances and exchange reserves of dozens of assets, including Bitcoin, Ethereum, USDT, BNB, SOL, XRP, USDC, were compared.
Users’ Bitcoin holdings on Binance reached 617,620 BTC. This represents a 4% increase compared to November 1st. 23,768 BTC were added to user balances in the past month. The reserve ratio for BTC was recorded at 102.11%, meaning Binance holds more than enough reserves to fully cover users’ BTC holdings, according to the report.
Binance users’ ETH balances decreased by 1.32% to 4.04 million ETH. USDT also saw a 1.24% decrease, bringing the user balance to 34.3 billion USDT. Despite this, reserve ratios stood at 109.16% for USDT and 100% for ETH.
Other important assets and reserve ratios included in Binance’s report are as follows:
- DOGE: 110.61%
- POL: 107.93%
- DOT: 105.21%
- LINK: 100.92%
- SHIB: 101.07%
- ARB: 100.45%
- LTC: 120.08%
- OP: 105.71%
- CHZ: 101.77%
- UNI: 102.09%
- APT: 102.69%
- GRT: 103.57%
- SSV: 100.32%
- CHR: 104.25%
- ENJ: 100.69%
A particularly striking point about USDC is that while the user balance is 6.88 billion USDC, the exchange holds 9.47 billion USDC in reserve.
*This is not investment advice.
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