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Cryptocurrency exchange Binance has released its 35th Proof of Reserves report, based on a snapshot dated October 1. According to the report, while user balances decreased compared to the previous month, the exchange maintained its asset ratio above 100%.
According to Binance data, users' Bitcoin ($BTC) holdings decreased by 2.67% compared to the previous report, falling to 591,000 $BTC. This represents a decrease of approximately 16,200 $BTC. Ethereum ($ETH) balances also decreased by 4.78%, falling to 4.13 million $ETH. Users' Tether ($USDT) holdings decreased by 3.10%, reaching 30.28 billion $USDT.
The exchange's reserve ratios remained above 100% across all major assets:
- $BTC rate: 103.50%
- $ETH rate: 100.00%
- $USDT rate: 106.87%
- BNB rate: 112.44%
- USDC rate: 148.31%
- FDUSD rate: 125.11%
Some other assets also saw high margin ratios, with LTC showing a 112.90% excess reserve, DOGE a 106.71% excess reserve, POL a 108.63% excess reserve, DOT a 105.69% excess reserve, and LINK a 100.61% excess reserve.
After it was revealed that the once-popular cryptocurrency exchange FTX was making high-risk investments using user assets, many major cryptocurrency exchanges began sharing proof of reserves.
*This is not investment advice.
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