{"id":31450,"date":"2025-06-12T03:01:33","date_gmt":"2025-06-12T03:01:33","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=31450"},"modified":"2025-06-12T03:01:33","modified_gmt":"2025-06-12T03:01:33","slug":"binance-proof-of-reserves-shows-exchange-holds-no-ethereum-or-solana-so-what-do-they-hold","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=31450","title":{"rendered":"Binance Proof Of Reserves Shows Exchange Holds No Ethereum Or Solana, So What Do They Hold?"},"content":{"rendered":"
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Ethereum (ETH) and Solana (SOL) take center stage in Binance\u2019s latest Proof of Reserves (PoR)<\/a> audit published on June 1. As the world\u2019s largest crypto exchange in terms of trading volume, Binance reaffirms that all customer assets are fully backed at a 1:1 ratio. However, the audit reveals a striking detail: the exchange holds no excess reserves of ETH and SOL beyond customers deposits. While this aligns with Binance\u2019s policy of fully backing user funds<\/a>, it also raises questions about how the exchange manages its asset reserves\u2014-and which assets they prioritize holding internally.<\/p>\n

Binance Shows Ethereum And Solana 100% Held By Customers<\/h2>\n

A report<\/a> by MartyParty on X (formerly Twitter) points out that Binance\u2019s June audit, verified using zk-SNARK cryptography, shows<\/a> Ethereum and Solana balances closely matching user deposits, with only a minute surplus remaining under the exchange\u2019s control. Ethereum holdings<\/a> stand at 5,337,118.325 ETH, nearly identical to the net balance of Binance\u2019s customers, which is 5,337,110.337 ETH.<\/p>\n

The same applies to Solana, with the crypto platform holding 23,017,153.973 SOL, while customers have deposited a total of 23,017,150.874. This has resulted in a 100.00% reserve ratio for Ethereum and Solana, inherently suggesting that Binance does not currently maintain any buffer or over-collateralization in either cryptocurrency.\u00a0<\/p>\n

Although this practice technically satisfies Binance\u2019s commitment to fully backing users\u2019 funds on a 1:1 basis, the absence of excess ETH or SOL may signal a strategic decision to allocate reserves toward other digital assets. Moreover, it could reflect shifting user demand<\/a> or changes in internal treasury decisions, especially when compared with other cryptocurrencies where the exchange maintains a clear surplus.\u00a0\u00a0<\/p>\n

Here\u2019s What The Exchange Is Holding<\/h2>\n

While Ethereum and Solana are matched almost perfectly to customer net balances, Binance holds significantly more of other assets, suggesting a stronger liquidity cushion in key cryptocurrencies and stablecoins. Notably, stablecoins hold the most reserves on the platform, with assets like BUSD, USDC, FDUSD<\/a>, and USDT showing a 161.86%, 153.01%, 112.86%, and 101.52% reserve ratio, respectively. This highlights a possible preference for holding a significant surplus in these coins to maintain stability and liquidity.\u00a0<\/p>\n

Bitcoin reserves<\/a> on Binance are reported at 606,080 BTC, exceeding customer balances of 593,411 BTC, giving the exchange a reserve ratio of 102.13%. Interestingly, the platform also maintains surplus reserves in coins like XRP<\/a> and Shiba Inu (SHIB). However, the highest reserve ratios are seen in Litecoin (LTC), Binance Coin (BNB)<\/a>, and Dogecoin (DOGE).<\/p>\n

LTC shows a robust 113.61% ratio, indicating that the exchange holds several million coins beyond what is needed to cover user deposits. Additionally, BNB is over-backed with a 111.74% ratio, reflecting a balance sheet that includes approximately 7.33 million tokens to meet Binance customers<\/a>\u2019 deposits of 6.45 million. Dogecoin, on the other hand, highlights a notable over-collateralization, with a reserve ratio of 110.99%. Currently, the platform holds a net balance of 17.01 billion DOGE, compared to customers\u2019 net balance of 15.3 billion tokens.<\/p>\n

\"Binance\"<\/div>\n","protected":false},"excerpt":{"rendered":"

Ethereum (ETH) and Solana (SOL) take center stage in Binance\u2019s latest Proof of Reserves (PoR) audit published on June 1. As the world\u2019s largest crypto exchange in terms of trading volume, Binance reaffirms that all customer assets are fully backed at a 1:1 ratio. However, the audit reveals a striking detail: the exchange holds no […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-31450","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/31450","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=31450"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/31450\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=31450"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=31450"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=31450"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}