Binance Releases Updated Proof of Reserves: Another Altcoin Added! – How Much Bitcoin, Ethereum, XRP, and Altcoins Do Users Own?

Binance, the world’s largest cryptocurrency exchange, announced its proof-of-reserve system to restore waning trust in Bitcoin exchanges following the sudden bankruptcy of FTX.

Binance, which publishes reserve reports at regular intervals, has released its 41st reserve report (snapshot date April 1).

According to Binance’s official website, the reserve ratio (the ratio of Binance’s holdings to user assets) for major cryptocurrencies is excessively collateralized.

Apart from Bitcoin ($BTC), the report includes $USDT, Ethereum ($ETH), $BNB, Solana (SOL), FDUSD, ENJ, 1INCH, CRV, MASK, HFT, BUSD, AAVE, ASTER, BCH, BOME, Ethena (ENA), FORM, Hedera (HBAR), NEAR, $PAXG, PENDLE, Pepecoin (PEPE), RLUSD, S, SUI, TRUMP, U, USD1, USDE, WIF and WLFI were included.

Binance’s latest proof of reserves shows that $BTC, $USDT, $ETH, and $BNB reserves are overcollateralized at 100.03%, 105.62%, 100.00%, and 100.96%, respectively.

This month’s report includes the first-ever inclusion of PAX Gold ($PAXG), a gold-backed token issued by Paxos. This brings the total number of cryptocurrencies in reserves to 49.

Compared to the March Reserve Report, the amount of $BTC and $ETH held by users on Binance has decreased.

*This is not investment advice.