Binance has published its 38th Proof of Reserves (PoR) report, offering a fresh snapshot of user-held assets on the world’s largest cryptocurrency exchange.
The latest disclosure, dated January 1, highlights a steady rise in customer balances across major digital assets, reinforcing Binance’s ongoing push for transparency through verifiable on-chain data and Zero-Knowledge Proofs (ZKP).
“Binance has published its 38th Proof of Reserves report, showing continued growth in user assets.”
According to the report, users collectively hold 618,000 BTC, 4.17 million ETH, and 38.2 billion USDT on the platform.
These figures represent customer balances rather than company funds and are backed by on-chain reserves that can be independently verified. The exchange continues to maintain reserves that exceed 100% of user liabilities for major supported assets, a benchmark Binance has emphasized since launching its PoR initiative.
Rising User Balances Across Major Assets
“As of January 1, user holdings stand at:
• 618K $BTC
• 4.17M $ETH
• 38.2B $USDT”
The increase in holdings comes at a time when market participants remain cautious about centralized exchanges following past industry failures. Bitcoin and Ethereum balances suggest sustained user engagement, while the large volume of USDT reflects continued demand for stablecoin liquidity for trading, hedging, and capital preservation.
Binance’s Proof of Reserves system relies on Merkle Tree technology combined with Zero-Knowledge Proofs, allowing users to confirm that their balances are included in the total liabilities without revealing personal account data. This approach has become an industry reference point as exchanges face growing calls for verifiable custody practices.
Transparency as a Competitive Signal
By releasing monthly PoR reports, Binance aims to reassure users that customer funds are fully backed and segregated. The consistency of these disclosures—now at 38 reports—signals a long-term commitment rather than a one-off response to market pressure.
As regulatory scrutiny increases globally, regular Proof of Reserves updates are likely to remain a critical trust metric for centralized exchanges. For Binance, the latest figures underline both its scale and the continued confidence users place in the platform as of the start of the new year.
