Binance led January’s proof-of-reserve rankings with $155.6b in assets, far ahead of OKX, Bybit, and smaller rivals, highlighting a tiered exchange reserve structure.
Summary
- Binance ranked first in CoinMarketCap’s January 2026 reserve report with $155.6b in assets, the largest proof-of-reserve stack among major exchanges.
- OKX and Bybit formed a second tier of reserve holders, while regional platforms like Gate, HTX, Bitget, MEXC, and KuCoin made up a smaller third tier.
- Reserves were concentrated in stablecoins, Bitcoin, Ethereum, exchange tokens such as BNB, and popular altcoins including Dogecoin, $XRP, and Solana, underscoring PoR as a key transparency tool post‑2022.
Binance ranked first among major cryptocurrency exchanges in January 2026 reserve holdings with $155.6 billion in assets, according to a report published by CoinMarketCap.
The exchange maintained the largest proof-of-reserve holdings among global trading platforms, the report stated. OKX placed second in the ranking, followed by Bybit in third position. Other exchanges included in the analysis were Gate, HTX, Bitget, MEXC and KuCoin.
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The report identified a tiered market structure, with Binance holding reserves that exceeded the combined totals of several competitors. OKX and Bybit comprised a second tier of reserve holders, while smaller regional platforms formed a third tier, according to the data.
Binance’s reserves were concentrated in major cryptocurrencies and stablecoins, the report showed. Holdings included stablecoins, Bitcoin-related assets, exchange-owned tokens led by Binance’s native token, altcoin reserves, and Ethereum-related assets.
Binance completes another proof of reserves
CoinMarketCap noted that stablecoin holdings serve as liquidity buffers for withdrawals and market operations across exchanges.
Reserve allocation strategies varied among platforms, the report indicated. OKX allocated significant portions to stablecoins and Bitcoin-related assets, while Bybit’s reserves showed higher concentration in stablecoins and Bitcoin.
Several exchanges disclosed limited information about exchange-owned tokens or altcoin holdings, focusing disclosures on Bitcoin (BTC), Ethereum (ETH) and stablecoins, according to the report. Commonly held altcoins across multiple platforms included Dogecoin, Ripple’s $XRP token and Solana.
Proof-of-reserve disclosures have become a key transparency measure for cryptocurrency exchanges following industry disruptions in 2022. Reserve composition and scale are viewed as indicators of platform stability and market confidence, the report stated.
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