Binance released 22nd proof of reserves, the latest proof of reserves showing strong demand for stablecoin

Binance has released its 22^nd Proof of Reserves (PoR) report, with the snapshot taken on September 1, 2024.

www.binance.com/en/proof-of-reserves

Here are some key highlights:

1.  Bitcoin Holdings: Binance users currently hold 605,690.438 BTC, with a reserve ratio of 106.84%. This is a slight decrease of 1.27% from the previous report1.

2.  Ethereum Holdings: Users hold 4,486,359.895 ETH, with a reserve ratio of 103.68%. This represents a 4.58% decrease from the last report1.

3.  Tether Holdings: USDT holdings have increased to 22,111,872,167.191 coins, reflecting a 4.34% rise from the previous month1.

User holdings of Tether have surged by 4.34%, reaching 22.11 billion USDT, with an increase of 919 million USDT since the last snapshot. This growth reflects strong demand from stablecoin.

Other Assets: The report also includes holdings of other top coins like BNB, Solana, FDUSD, XRP, and USDC, all of which are maintained at over 100% reserve ratios.

 Wu Blockchain on X: "Binance released the 22nd proof of reserves (snapshot date September 1). The user's BTC assets are 605k, down 1.27% from the last time; the user's ETH assets are 4.486 million, down 4.58% from the last time, a decrease of 215k ETH; the user's USDT assets are 22.11 billion

This Proof of Reserves (PoR) report continues to demonstrate Binance’s commitment to transparency and storing user fund safety.