Binance Reveals Strong Proof of Reserves in Nov 1 UTC Snapshot

The report shows Binance holding 606,356 BTC for users, reflecting a reserve ratio of 102.11%. It also holds 4.09 million ETH (100.00%), 37.88 million BNB (112.95%), and 34.73 billion USDT (107.45%).

A reserve ratio above 100% means Binance keeps more assets than it owes to customers, which helps build confidence in its ability to cover withdrawals at any time.

Proof of Reserves: Why It Matters

Proof of Reserves is a public audit that verifies an exchange’s on-chain assets against customer balances. This method became standard practice after the collapse of FTX in late 2022, which shook investor trust across the industry. Since then, users have demanded clearer proof that exchanges actually hold the crypto they claim.

Binance was one of the first major exchanges to introduce PoR audits in response. It uses cryptographic techniques like Merkle trees, which allow users to independently verify their balances without exposing personal data. This combination of security and transparency has helped Binance maintain credibility even as regulators worldwide increase scrutiny on crypto platforms.

The exchange’s November report comes at a time when global trading volumes are picking up again. According to CoinMarketCap, daily crypto exchange activity rose nearly 35% over the past quarter, reflecting renewed investor optimism amid a recovering market. Binance’s solid reserve ratios show it is well-positioned to handle this growing demand.

More About Binance

Binance published November’s crypto market insights. After a turbulent October, when the market dropped 6.1%—its first red October since 2018—investors are eager for direction. The decline followed a massive US$19 billion liquidation and uncertainty from the U.S. government shutdown. The Federal Reserve’s 25-basis-point rate cut offered brief relief but came with a cautious outlook. Meanwhile, Bitcoin’s dominance climbed to 59.4%, showing a flight to safety, while institutional interest in Ethereum stayed firm.

New products like Bitwise’s Solana Staking ETF attracted notable inflows, signaling confidence in next-gen chains. As November unfolds, easing U.S.-China trade tensions and the Fed’s plan to end quantitative tightening in December could spark a rebound. Key areas to watch this month include market sentiment, x402 activity, on-chain privacy, and the fast-growing intersection of AI and crypto trading.

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