February 11, 2025
Binance recently released their latest Proof of Reserves (PoR) data which revealed a significant $8 billion drop in non-customer assets, raising questions about asset movements and financial strategies.
As of January 2025, Binance reported holding only 2,746 BTC, 275 million USDT, 174 ETH, 4.87 million BNB, and 4,179 SOL, a sharp decline compared to December 2024 when its reserves were far larger.
This reduction, which marks the lowest level of non-customer assets in nearly two years, has sparked speculation that the funds could have been used for regulatory settlements, FTX clawbacks, or reallocated for business expansion.
Binance maintains it holds 100% of user assets, with a 1:1 collateralization ratio, and has not commented publicly on the discrepancy. This is not the first time the exchange has faced scrutiny over its reserves. In 2023, rumors about asset sales were also denied by CEO Changpeng Zhao.
In any case, with growing concerns around transparency, especially in the wake of the infamous FTX collapse, the financial practices of the cryptocurrency exchange will most likely remain under close scrutiny going forward.
