Binance has released its 43rd proof of reserves report, using a June 1 snapshot of user asset balances.
Summary
- Binance users added 25,838 BTC in May, lifting reported holdings to about 630,000 BTC total.
- ETH balances rose faster than BTC, climbing 10.17% to about 4.14 million ETH by June.
- USDT holdings fell by roughly 460 million, pointing to lower stablecoin balances among Binance users.
The latest update on the Binance PoR page shows a clear rise in reported Bitcoin and Ethereum user holdings from the prior month.
User BTC holdings rose 4.26% from May 1 to about 630,000 BTC. That marked an increase of 25,838 BTC. User ETH holdings rose faster, climbing 10.17% to about 4.14 million ETH, up 382,619 ETH over the same period.
The increase in BTC and ETH balances comes as exchange reserve reports remain closely watched by traders. Larger user balances can reflect deposits, purchases, internal transfers, or other account activity. The snapshot does not separate those drivers.
USDT balance moves lower
The stablecoin side moved in the other direction. Binance reported user USDT holdings of about 34.3 billion USDT, down 1.33% from May 1. The decrease was equal to roughly 460 million USDT.
The mixed data shows users held more BTC and ETH on Binance, while reported USDT balances fell. The report does not show why balances changed. It does not prove whether users bought crypto, withdrew stablecoins, moved funds between products, or changed trading plans.
A lower USDT balance can matter because stablecoins often act as dry powder for trading. However, the figure alone does not show whether liquidity left Binance or moved into other assets on the platform.
Proof of reserves remains under focus
Binance uses proof of reserves to show that user assets are backed on-chain. The exchange says the process is meant to prove customer funds are held “1:1” and include extra reserves. The report is based on snapshots, so it does not operate as a live balance sheet.
As crypto.news reported earlier, Binance led proof-of-reserve rankings with $155.6 billion in assets in January 2026, based on CoinMarketCap data. According to an earlier crypto.news report, Binance’s open-source PoR system uses zero-knowledge proofs to improve verification and privacy for users.
Balance changes point to rotation
The June snapshot differs from some earlier reserve moves. In a previous crypto.news report, Binance’s September balances showed declines in BTC, ETH and USDT during a weaker market period. The latest snapshot shows the opposite for BTC and ETH, even as USDT balances fell.
crypto.news previously reported that Binance backed major tokens at more than 100% in a May 2025 reserves update, including Bitcoin, Ethereum and USDT. That earlier report said 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. BTC and ETH remain the two largest non-stablecoin assets in most exchange reserve reports, making their balance changes a key market signal.
Still, proof of reserves has limits. It shows reported asset backing at a point in time, but it does not fully explain liabilities, off-chain obligations, or user behavior. For that reason, the latest Binance report shows a balance shift, not a full picture of exchange health.
