Binance Reveals $58 Billion Bitcoin Holdings in 30th Proof-of-Reserves

Binance’s latest proof-of-reserves report shows $58 billion in Bitcoin, and $82 billion in other cryptocurrencies, aiming to restore trust post-FTX collapse. Despite some declines in asset values, stablecoin holdings have increased, indicating users’ preference for stability amidst market volatility. Overall, Binance reports total user assets of around $140 billion, employing advanced cryptography for accountability.

Binance, the largest cryptocurrency exchange by trading volume, has recently released its 30th proof-of-reserves (PoR) report. This latest update shows that the exchange is holding an impressive $58 billion in Bitcoin (BTC) along with another $82 billion in various cryptocurrencies. The report is a crucial step towards building user trust, especially after the events surrounding the FTX collapse back in 2022, which left many investors jittery about exchange transparency.

The snapshot taken on May 1, 2025, dissects user asset holdings in a detailed manner. As per the data from Binance’s official site, Bitcoin and notable coins like Ethereum (ETH), BNB, Solana (SOL), and XRP represent the majority of their holdings. Additionally, stablecoins, including USDT, FDUSD, and USDC, constitute a significant portion of the assets, reinforcing the need for liquidity in a volatile market.

The current valuation of Binance’s Bitcoin holdings sits at $58 billion, based on the latest Bitcoin price of $96,500. This figure reflects a 1.35% decrease from the prior month, where they had 612,675 BTC. This decline in assets could hint at user withdrawals or selling activities, which often occur amidst market uncertainty.

Ethereum holdings haven’t fared much better, dropping by 3.36% to a total of 5,281,746 ETH, which is worth about $9.5 billion if priced at $1,800 per ETH. The platform’s native token, BNB, also saw a small decline of 0.74%, with 39,244,785 BNB held, valued around $23 billion at a price of $600 per BNB.

Interestingly, Tether (USDT) user holdings shot up by 2.61%, reaching a total of 29.05 billion USDT, translating to approximately $29 billion. This increase suggests that users might be shifting towards stablecoins as a protective measure against the inherent volatility of cryptocurrency prices and wider economic uncertainties.

When you combine the total values of ETH, BNB, and USDT, it approximates a staggering $67 billion. Along with an additional $15 billion in other cryptocurrencies, the total non-BTC holdings skyrocket to about $82 billion. Overall, Binance’s estimated total user assets amount to a colossal $140 billion, highlighting its dominant position in the crypto market.

To ensure accountability, Binance employs zero-knowledge cryptography and Merkle Tree audits to meticulously verify all user balances, though it does exclude the firm’s corporate assets from its PoR calculations. This level of scrutiny aims to address users’ increasing demands for transparency and assurance in the wake of recent industry turbulence.

Additionally, Binance is facing scrutiny in other areas, recently delaying its second MOVE airdrop. Questions arise as to why this delay occurred, adding another layer to the ongoing dialogues around this prominent exchange’s operations.

For investors, staying tuned into Binance’s developments and understanding the fluctuating trends in its assets will be crucial in navigating the cryptocurrency landscape effectively.