Binance’s reserve proof shows that there is no Ethereum or Solana in the exchange, so what do they hold?
Ethereum (ETH) and Solana (Sol) on the center stage Binance’s Latest Reserve Proof (POR) The audit was released on June 1. As the world’s largest crypto exchange, second-hand companies reiterate that all customer assets provide full support at a 1:1 ratio. However, the audit shows amazing details: the exchange has no ETH and SOL reserves that surpass customer deposits. And this Binance fully supports user funding policyIt also raises questions about how to manage their asset reserves and the assets they hold internally.
Binance shows Ethereum and Solana are 100% owned by customers
one Report By Martyparty on X (formerly Twitter), Binance’s June Audit, verified using ZK-SNARK CRYPTography, show Ethereum and Solana balance the close matching of user deposits, with only one minute of surplus under the control of the exchange. Ethereum holds Stand at 5,337,118.325 ETH, which is almost the same as the net balance of Binance customers, i.e. 5,337,110.337 ETH.
The same is true for Solana, where the cryptocurrency platform holds 23,017,153.973 SOL while customers store a total of 23,017,150.874. This leads to a reserve ratio of 100.00% for Ethereum and Solana, which essentially shows that binance is currently not maintaining any buffering or over-sided in any cryptocurrency.
While this approach technically satisfies Binance’s commitment to fully support user funds on a 1:1 basis, the lack of excessive ETH or SOL could mean a strategic decision to allocate reserves to other digital assets. And, it can reflect Transfer user needs or changes in internal treasury decisions, especially when maintaining clear surplus when other cryptocurrencies are kept.
This is held by the clearing house
While Ethereum and Solana almost match the net balance of customers, Binance holds more other assets, indicating a stronger liquidity buffer for key cryptocurrencies and StableCoins. It is worth noting that Stablecoins has the most reserves on the platform, with assets such as BUSD, USDC, etc. fdusdand USDT respectively showed reserve rates of 161.86%, 153.01%, 112.86% and 101.52%. This highlights the possible preference for maintaining large surpluses in these coins for stability and liquidity.
Bitcoin Reserves According to reports, BTC has a BTC of 606,080, exceeding 593,411 BTC customer balance, giving the exchange a reserve ratio of 102.13%. Interestingly, the platform also keeps Remaining reserves in coins like XRP and shiba inu (shib). However, the highest reserve ratio seen in Litecoin (LTC), Binance Coin (BNB)and Dogecoin (Doge).
LTC showed a strong 113.61% ratio, indicating that the exchange owns millions of coins, exceeding the coins needed to cover users’ deposits. Additionally, the BNB ratio exceeded 111.74%, reflecting a balance sheet that included approximately 7.33 million tokens to meet Binance Customers‘The deposit is 6.45 million. Dogecoin, on the other hand, highlights a noteworthy overalliance with a reserve ratio of 110.99%. Currently, the platform has a net balance of 17.01 billion tomas, while the customer’s net balance is 15.3 billion mark.
Featured images from Adobe Stock, charts from TradingView.com
Editing process For Bitcoin experts, focus on thorough research, accurate and impartial content. We adhere to strict procurement standards and each page is diligently evaluated by our top technical experts and experienced editorial team. This process ensures the integrity, relevance and value of our content to our readers.
