Binance Reserve Report Shows Excessively Collateralized Assets Amid Proof-of-Reserve Push

Binance, the world's largest cryptocurrency exchange, has released its 44th reserve report as part of its proof-of-reserve system aimed at restoring trust in crypto exchanges following FTX's bankruptcy. The reserve ratio for major cryptocurrencies is excessively collateralized, according to Binance's official website.

The report includes a range of assets such as Bitcoin (BTC), Ethereum (ETH), USDT, BNB, Solana (SOL), and several others. The reserve ratios remained above 100% for all major assets, with notable rates including 103.49% for $USDT and 108.67% for $USDC.

Notably, users' Bitcoin holdings increased by 1.22% compared to the previous report, reaching approximately 640,296 BTC, while their USDT holdings decreased by 1.51% to 33.7 billion USDT.