Leading cryptocurrency exchange Binance has released its 22nd Asset Reserve (PoR) report in an effort to promote transparency and maintain integrity. This report typically shows the exchange’s user assets. Binance states that it holds all user assets in a 1:1 ratio and has additional reserves. It also claims to have zero debt in its capital structure and has a safety fund (SAFU fund) for emergencies.
Binance Asset Reserve Ratio is High
22. PoR report shows that users can use Bitcoin $55,278.30 It shows that their holdings are around 605,000 BTC, down 1.27% from the previous report. Users are investing in Ethereum 
$2,325.70 assets were 4.486 million ETH, down 4.58%, decreasing by 225,000 ETH. On the other hand, users’ Tether (USDT) assets increased by 4.34%, reaching 22.11 billion units. A Prize Pool Worth 21 Million TL Awaits You from BinanceTR! Participating and winning has never been easier.. You can sign up to BinanceTR from this link. Get your first crypto!
Binance’s Solana (SOL) reserve is 32 million SOL, while Dogecoin 
$0.097739 (DOGE) client net balance is recorded as 13.12 billion DOGE. Snapshot taken on September 1, 2024. Binance has a reserve ratio of 106.84% for BTC assets, 103.68% for ETH assets, 100.09% for DOGE, 112.82% for USDT, and 102.67% for SOL assets.
FTX Collapse Makes PoR Streams Necessary
FTX experienced a major liquidity crisis and stopped withdrawing funds, unable to meet user demand. After the company’s collapse, around 1 million creditors lost billions of dollars. Users on other crypto platforms also lost confidence.
“The introduction of the PoR system is an important step to regain users’ trust,” said Binance CEO Changpeng Zhao.
The PoR system has helped these crypto firms regain the trust of users. Binance has been constantly updating its platform for two years, ensuring users have a seamless experience. It also provides users with all the information they need to invest in crypto effectively. Other exchanges are also following Binance’s lead.
In the first quarter of 2024, OKX released its 17th PoR report, showing that the BTC reserve ratio was 102%, ETH 104%, USDT 106%, and USD 110%. The report also revealed that the exchange is overcollateralized and user assets are backed at a 1:1 ratio.
In May, leading crypto exchange and Web3 innovator Gate.io released its PoR report, showing a 115.34% reserve-to-deposit ratio and $6.49 billion in total reserves. This report covers around 209 digital assets, 20 more than the previous report. Binance has also been consolidating its position as the top exchange in the market by increasing its asset size from time to time.
Binance’s continued increase in reserves aims to ensure user trust and increase transparency in the crypto market. Other exchanges taking similar steps could increase the overall reliability of the crypto market.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
