Binance reports user BTC holdings rise 4% to 630K, ETH up 10% to 4.14M

Binance users are parking more crypto on the exchange, not less. The platform’s latest Proof of Reserves snapshot, dated June 1, shows net user BTC balances of approximately 632,580 BTC and 4,144,940 ETH, representing period-over-period increases of 4.26% and 10.17% respectively.

The numbers in context

As of August 2025, Binance reported BTC holdings of roughly 591,000. That means the exchange has seen an increase of more than 41,000 BTC in user deposits over approximately ten months.

For BTC specifically, the exchange reported an over-collateralization ratio of 100.20%. For every Bitcoin users have deposited, Binance holds slightly more than one Bitcoin in reserve.

The verification method behind these numbers uses zk-SNARKs combined with Merkle trees, a cryptographic approach that allows individual users to verify their balances are included in the total without exposing anyone else’s data.

Why proof of reserves matters now

Binance launched its Proof of Reserves initiative in late 2022. The timing was not coincidental. FTX had just imploded, revealing that the exchange run by Sam Bankman-Fried had been playing fast and loose with customer funds.

These are self-reported figures. No third-party audit has been published alongside this latest snapshot. That doesn’t mean the numbers are wrong, but it does mean the verification relies on the cryptographic tools Binance has built rather than an independent accountant signing off.

What this means for investors

The 10% jump in ETH holdings is the more interesting figure of the two. A 4.26% increase in BTC is solid but not dramatic. Double-digit growth in ETH deposits suggests users may be positioning for staking opportunities, anticipated network developments, or active trading.

The risk calculus for investors hasn’t fundamentally changed. Centralized custody always carries counterparty risk, regardless of how many cryptographic proofs are published. The 100.20% over-collateralization ratio for BTC is reassuring but razor-thin. A 0.20% buffer doesn’t leave much room for error in a market that routinely moves 5% in an afternoon.

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