Binance, the largest cryptocurrency exchange by trading volume, released its 20th Proof of Reserves, revealing the company’s asset reserves changes in July.
Wu Blockchain, a crypto reporting platform run by Chinese journalist Colin Wu on X, has shared insights on Binance’s post, noting customer net balances of top cryptocurrencies like BTC, ETH, and USDT.
Binance released the 20th proof of reserves (July 1). User BTC assets are 605,637, up 4.01% from June 1. User ETH assets are 4.711 million, up 1.01%. User USDT assets are 21.51 billion, down 2.54%.https://t.co/jGCPnwd2PR pic.twitter.com/JUCIRcCBLe
— Wu Blockchain (@WuBlockchain) July 6, 2024
By releasing the Proof of Reserves, Binance intends to acknowledge the assets that they hold in custody for users. The platform wrote, “We are showing evidence and proof that Binance has funds that cover all of our users assets 1:1, as well as some reserves.”
According to the data, the customer net balance of Bitcoin (BTC) currently stands at 605,636.567, up by 4.01%. Meanwhile, the Binance net balance of the crypto is valued at 645,385.231, with a 624,802.804 exchange balance and 20,582.427 in third-party custody. As of press time, Bitcoin is trading at $57,728, marking an increase of 2.15% in one day.
The users’ ETH assets are valued at 4,711,979.871, up 1.01%. Binance holds a net balance of 4,851,363.583 ETH, with 4,851,363.583 as the exchange balance and 196,665.613 in third-party custody.
Binance’s customer net balance of USDT is 21,519,835,921.785, down 2.54%. Of the Binance net balance of 24,921,355,644.086, 24,689,441,644.727 is the exchange balance, and the remaining 231,913,999.359 is in third-party custody.
Another prominent token highlighted is Solana (SOL), with a total customer balance of 32,458,120.772. At the same time, the Binance net balance is 33,729,772.029, with an exchange balance of 33,272,752.29 and a third-party custody of 457,019.739.
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