Following OKX, cryptocurrency exchange Binance has also published its 39th Proof of Reserves (PoR) report! Here are the details.
Binance, one of the world’s largest cryptocurrency exchanges, released its 39th Proof of Reserves (PoR) report based on data as of February 1. The report highlights monthly changes in user assets.
According to the data, the total amount of Bitcoin ($BTC) held by users on the platform reached approximately 639,000 $BTC. This represents a 0.41% increase compared to the previous snapshot taken on January 1. The net increase in $BTC balance amounted to about 2,614 $BTC.
At the same time, a decline was recorded in Ethereum ($ETH). The total amount of $ETH held in user accounts stood at approximately 4.18 million $ETH, down 3.74% compared to the previous month. The reduction in balance totaled around 162,469 $ETH.
A similar trend was observed in Tether ($USDT) balances. The total volume of user $USDT assets amounted to approximately 36.8 billion $USDT. This marks a 3.07% month-over-month decrease, or roughly 1.16 billion $USDT.
Proof of Reserves (PoR) reports are designed to demonstrate that exchanges hold sufficient reserves to fully (1:1) back user assets. Binance states that it aims to enhance transparency and strengthen investor trust through regularly published PoR reports.
See also: "Bitcoin balance on Binance reached its highest level since November 2024"
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