According to Binance's 43rd proof of reserves report using a June 1 snapshot, user Bitcoin holdings increased by 25,838 BTC in May, bringing total reported holdings to approximately 630,000 BTC. User Ethereum balances showed even stronger growth, climbing 10.17% to about 4.14 million ETH, representing an increase of 382,619 ETH over the same period. As reported by crypto.news, these increases reflect deposits, purchases, internal transfers, or other account activity among Binance users.
Contrasting the crypto asset growth, USDT holdings fell by approximately 460 million tokens, bringing total user USDT balances to about 34.3 billion USDT, down 1.33% from May 1. According to the report, this decrease in stablecoin balances suggests users held more Bitcoin and Ethereum while reducing their USDT positions. The lower USDT balance may matter because stablecoins often serve as trading liquidity, though the report does not indicate whether funds moved to other assets on the platform.
Binance uses proof of reserves to demonstrate that user assets are backed on-chain, with the exchange stating the process proves customer funds are held '1:1' and include extra reserves. As reported by crypto.news, Binance led proof-of-reserve rankings with $155.6 billion in assets in January 2026, based on CoinMarketCap data. The exchange's open-source PoR system uses zero-knowledge proofs to improve verification and privacy for users, though the report operates as a snapshot rather than a live balance sheet.
The June snapshot shows opposite trends compared to Binance's September balances, which previously showed declines in BTC, ETH and USDT during a weaker market period. According to crypto.news, proof of reserves became more closely watched after FTX collapsed and users demanded clearer exchange backing data. The latest figures suggest Binance users held more core crypto assets and less USDT at the start of June, with BTC and ETH remaining the two largest non-stablecoin assets in most exchange reserve reports.
