Binance’s 34th Proof-of-Reserves snapshot confirms user-held balances across major coins: 608,017 BTC reported on Sept. 1 (net 629,273 BTC), 4,340,935 ETH held, and large stablecoin reserves including 31.3 billion USDT—data aims to demonstrate on-chain backing for custodial liabilities.
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Proof-of-Reserves snapshot lists user-held balances for BTC, ETH, XRP, SOL, BNB and major stablecoins.
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Binance reported a 2.85% month-over-month increase in BTC (16,858 BTC added) and a 4.69% rise in USDT holdings.
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Data shows 608,017 BTC held for users and net Bitcoin balances of 629,273 BTC; Ethereum holdings dropped by 4.7% (214,079 ETH).
Binance proof-of-reserves snapshot confirms BTC, ETH and USDT holdings; read the verified balances and implications for custodial transparency. See full figures and takeaways.
What is Binance’s 34th Proof-of-Reserves snapshot?
Binance proof-of-reserves is a transparency report that discloses on-chain balances held for users across major cryptocurrencies and stablecoins. The 34th snapshot, published for Sept. 1, lists exchange and third-party custody balances to show backing of custodial liabilities.
How many Bitcoin and Ethereum does Binance report?
Binance reports 608,017 BTC held for users as of Sept. 1, a rise of 2.85% (16,858 BTC) versus August. The exchange lists total Bitcoin net balances of 629,273 BTC (600,060 BTC exchange balance + 29,213 BTC third-party custody). For Ethereum, Binance discloses 4,340,935 ETH held for users with net balances of 4,341,048 ETH (4,003,076 ETH exchange + 337,971 ETH third-party custody).
Why do the snapshot numbers matter?
Snapshots provide a reconciliation point showing on-chain holdings that correspond to user liabilities. They help market participants and regulators assess custodial reserve sufficiency without exposing customer identities.
Which other assets and stablecoins were disclosed?
Binance disclosed significant holdings across XRP, SOL, BNB and stablecoins. Key figures include 2,708,196,286 XRP held for users (net 2,788,066,030 XRP), approximately 23.79 million SOL, 39.31 million BNB held (net 44.23 million BNB), and 31,255,725,065 USDT in custody—an increase of 4.69% from Aug. 1.
How did key balances change month-over-month?
Bitcoin holdings increased by 16,858 BTC (2.85%) from August to Sept. 1. Ethereum holdings decreased by 214,079 ETH (4.7%). USDT balances rose by roughly 1.4 billion (4.69%) since Aug. 1. These month-over-month deltas show liquidity and inflows across different asset types.
What do exchange vs. third-party custody figures indicate?
Exchange balances reflect assets held directly in Binance-controlled wallets. Third-party custody shows assets held by external custodians. Binance’s net balances combine both to present a full custody picture for each asset class.
Frequently Asked Questions
Is Binance’s snapshot independently verified?
The snapshot is an internal proof-of-reserves disclosure using on-chain addresses; independent verification details or attestations (if provided) are noted by Binance in its report. External audits are separate processes and are listed by exchanges when available (source mentions: Wu Blockchain as plain text).
How can users verify the on-chain balances themselves?
Users can cross-check disclosed wallet addresses and on-chain balances using public blockchain explorers and reconcile totals against published snapshot figures for consistency.
How to interpret a proof-of-reserves snapshot?
Follow these steps to interpret the report and assess custodial backing.
Key Takeaways
- Transparency update: Binance’s 34th snapshot provides a detailed asset-level breakdown for major cryptocurrencies and stablecoins.
- BTC and USDT trends: BTC holdings rose by 2.85% month-over-month; USDT balances increased ~4.69%.
- User action: Users can verify published addresses on-chain and compare totals to reported liabilities for independent confirmation.
Conclusion
The 34th Binance proof-of-reserves snapshot delivers a clear, itemized account of custodial balances across BTC, ETH, XRP, SOL, BNB and major stablecoins. Readers should use on-chain verification to confirm figures and monitor future disclosures for continued transparency. COINOTAG will track updates and publish reconciliations as new snapshots are released.
