Binance has released its 28th proof of reserves report. The report shows increased user asset deposits across Bitcoin (BTC), Ethereum (ETH), and Tether’s USDT. The snapshot on March 1 reveals steady growth in user holdings on the world’s largest cryptocurrency exchange. All assets maintained reserve ratios above 100%.
According to the report, Bitcoin deposits reached 628,000 BTC. This value reflects a 2.02% increase from February 1, which means an addition of approximately 12,000 BTC. This growth follows a pattern observed in previous months, where user Bitcoin holdings have consistently increased.
Ethereum holdings were also positive, with user assets reaching 5.617 million ETH. This is a 0.59% increase from the previous report, adding 33,000 ETH to the platform’s reserves. The stable rise in Ethereum deposits suggests continued user confidence in both the cryptocurrency and Binance’s custody services.
The highest growth was observed in Tether holdings, where user deposits reached 29.4 billion USDT. The larger percentage increase in USDT compared to other cryptocurrencies proves that users maintain higher stablecoin balances for trading or as a hedge against market volatility.
Reserve Ratios and New Additions to the Reserve Report
The proof-of-reserves system aims to verify that exchanges maintain sufficient assets to cover all user deposits. Binance’s March report confirms that all user assets remain fully backed, with reserve ratios exceeding 100% across all tokens.
For major cryptocurrencies, Bitcoin shows a reserve ratio of 100.77%, Ethereum at 100.00%, USDT at 104.42%, and BNB at 110.92%.
The exchange’s reserve report now covers 35 different tokens, all with reserve ratios exceeding 100%. A notable update in the March report is the addition of the TRUMP coin to Binance’s proof of reserves system. The newly listed TRUMP token shows a reserve ratio of 100.38%. This inclusion comes amid growing interest in political-themed tokens in the cryptocurrency market.
Binance Comparative Analysis and Market Context
In February 2025, there were concerns about Binance reducing some of its holdings. However, the March report seems to counter those concerns, showing growth rather than reduction in major assets.
OKX, another leading crypto exchange, recently published a similar reserve verification. Its 28th proof of reserves report shows reserve ratios of 104% for Bitcoin, 102% for Ethereum, and 102% for USDT. This timing between major exchanges reflects an industry-wide commitment to transparency in the crypto exchange sector.
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