Binance has announced an updated monthly proof of reserves report in May 2025, showing that the assets supported by the exchange remain above 100% for major tokens like Bitcoin, USDT, and Ethereum.
On May 8, the leading cryptocurrency exchange released its latest update on its cryptocurrency reserves, including statistics on the supported reserves of the exchange for 37 cryptocurrencies.
The report reveals that the exchange controls 616,886.378 BTC ( BTC ), accounting for 102.06% of the current net assets of customers which is 604,886.378 BTC.
Similarly for the USDT ( USDT ) reserves supported by the exchange. Currently, Binance holds over 29.6 billion USDT, exceeding the assets held by customers at a rate of 102.07% or approximately 600 million USDT.
Meanwhile, the exchange's reserves for Ethereum ( ETH ), Solana ( SOL ), and Ripple ( XRP ) also remain significantly higher than the 1:1 ratio. The platform currently controls 5,289,954 ETH, exceeding the customer's net balance by over 8,000 ETH. The reserves supported by Solana also exceeded the 100% mark at 0.01% or a surplus of 2,000 SOL.
Binance's Ripple reserves remain at 102.99% or approximately 2.6 billion XRP. The exchange's reserves exceed the assets held by customers by nearly 76 million XRP.
The largest supported asset on the platform remains Binance USD ( BUSD ), maintaining reserves of more than double the customer balances or approximately 206.04%. This cryptocurrency exchange has long stopped supporting its USD-pegged stablecoin since closing the US market in 2023.
However, in February this year, the exchange's US branch reopened USD transactions for the first time since the service was closed in June 2023 due to an SEC lawsuit.
Furthermore, the exchange holds over 8.6 billion USDC ( USDC ) in its reserves, equivalent to 152.19% of the assets held by customers. The current net balance of customers on the platform is 5.6 billion USDC. Meanwhile, the FDUSD ( FDUSD ) reserves of the exchange achieved a rate of 107.84%, exceeding the assets held by customers by more than 82 million FDUSD.
Proof of reserves is information forwarded by centralized cryptocurrency exchanges to assure customers that their deposits are fully backed by on-chain reserves. The cryptocurrency exchange introduced this concept after FTX's bankruptcy to demonstrate its readiness to meet any volume of withdrawal requests.
