- Binance reserve data reveals that holdings in some cryptos exceed customer assets -

Binance published its latest proof of reserves data, confirming that the exchange continues to hold more digital assets than its customers in a majority of the supported tokens.

The report, released on May 8, covers 37 crypto assets and highlights that Binance currently controls 616,886.378 Bitcoin, compared to customer net assets of 604,886.378 BTC.

This represents a coverage ratio of 102.06%, or a surplus of about 12,000 BTC.

The proof of reserves data aims to reassure users that their deposits are fully backed on the blockchain and can be withdrawn at any time.

The reserves of $USDC are also well-backed.

Binance holds over 8.6 billion USDCoin, while customer assets total 5.6 billion. This amounts to a coverage ratio of 152.19%, or a surplus of reserves of about 3 billion of $USDC .

The highest ratio signals a broad liquidity reserve for redemptions in stablecoins.

source: TradingView