Binance Drops May 2025 Proof of Reserves: Still Over 100% Backed, Baby!

Holy crypto, Batman! Binance just unleashed their sizzling May 2025 proof of reserves report, and guess what? They're still flexing over 100% backing for the big dogs like Bitcoin, USDT, and Ethereum. You heard that right, folks!

On May 8, this crypto giant didn't just drop a report; they dropped a bombshell. The latest scoop on their crypto reserves covers a whopping 37 assets. And check this out: they're holding onto 616,886.378 BTC, which is a jaw-dropping 102.06% compared to the 604,886.378 BTC their customers have. Talk about confidence!

But wait, there's more! Their USDT game is just as strong. Binance's got over 29.6 billion USDT in the tank, outpacing customer-held assets by a solid 102.07% or about 600 million USDT. That's some serious muscle!

And don't sleep on their Ethereum, Solana, and Ripple reserves either. They're all cruising well above the 1:1 mark. Binance's got 5,289,954 ETH, topping customer net balances by over 8,000 ETH. Their Solana reserves? Just over the 100% line by 0.01%, or a tidy 2,000 SOL extra. And Ripple? Sitting pretty at a 102.99% ratio, or around 2.6 billion XRP. That's nearly 76 million XRP more than customer-held assets. Boom!

Now, let's talk about their biggest beast: Binance USD (BUSD). This bad boy's reserves are more than double customer balances, clocking in at a whopping 206.04%. And even though they stopped supporting this USD-pegged stablecoin back in 2023 when they closed U.S. markets, they're still rocking it.

Oh, and get this: their U.S. branch just reopened USD transactions in February this year. First time since they shut it down in June 2023 thanks to that SEC lawsuit drama.

But hold onto your hats, because Binance's also packing over 8.6 billion USDC in reserves, which is a mind-blowing 152.19% of customer-held assets. That's 5.6 billion USDC in customer net balances right now. And their FDUSD reserves? Sitting at a cool 107.84%, beating customer asset holdings by over 82 million FDUSD.

So, what's the deal with proof of reserves? It's like a trust badge for centralized crypto exchanges, showing customers that their deposits are fully backed by on-chain reserves. Binance started this trend after the FTX fiasco to prove they're ready to handle any withdrawal requests, no matter the size. That's the kind of transparency we love to see!