Binance published its 45th Proof of Reserves report using user balances recorded on Aug. 1, 2026. The snapshot showed customer Bitcoin holdings rising for another month, while Ethereum and Tether balances declined.
Summary
- Binance users held approximately 657,000 BTC on August 1, increasing balances by 16,349 BTC monthly.
- User Ethereum balances fell 2.57% to approximately 3.98 million ETH in Binance’s latest reserve snapshot.
- USDT holdings declined by roughly 870 million tokens, reaching approximately 32.9 billion USDT across accounts.
- Binance reported 100.25% reserve ratios for both Bitcoin and Ethereum at the snapshot time, respectively.
- Proof of reserves verifies point-in-time backing but cannot replace a complete independent financial audit process.
Users held approximately 657,000 BTC, up 2.55% from the July 1 snapshot. The increase amounted to 16,349 BTC, according to figures published through Binance’s reserve dashboard.
Ethereum balances moved in the opposite direction. Users held about 3.98 million ETH, down 2.57%, or 105,154 ETH. USDT balances also fell 2.57% to approximately 32.9 billion tokens, a decline of roughly 870 million USDT.
Binance user Bitcoin balances rose for a third month
The August snapshot continued a recent increase in customer Bitcoin balances. Binance users added 25,838 BTC during May and another 7,715 BTC during June.
As crypto.news previously reported, customer Bitcoin holdings had already increased in July even as ETH and USDT moved lower. The latest 16,349 BTC increase was more than twice the amount added during the previous reporting period.
The three monthly reports show users adding nearly 50,000 BTC between the May and August snapshots. However, that change does not establish that customers bought the same amount through Binance’s markets.
Reserve balances can rise through deposits from other exchanges, transfers from private wallets, purchases or movements between Binance products. The report does not separate those activities or identify the reasons behind individual balance changes.
Ethereum and USDT holdings extended their declines
Ethereum balances fell for a second consecutive snapshot after rising sharply in the June report. Users held approximately 4.14 million ETH on June 1 before the total declined to around 4.08 million ETH in July and 3.98 million ETH in August.
The latest decrease of 105,154 ETH was larger than the 58,591 ETH reduction recorded one month earlier. The figures could reflect withdrawals, sales, transfers to staking services or movements into other assets. Binance’s snapshot does not determine which explanation applies.
USDT balances followed a similar pattern. Customer holdings stood near 34.3 billion USDT in June and about 33.7 billion USDT in July. The latest report placed the total near 32.9 billion USDT.
That represents three consecutive monthly reports showing lower USDT balances. Still, the decline does not prove that users converted stablecoins into Bitcoin. Funds could have moved into other stablecoins, external wallets or different trading venues.
A comparable balance pattern has appeared elsewhere. In related coverage, Bybit and OKX reported rising Bitcoin balances alongside lower USDT holdings in their recent snapshots.
Binance reports reserves above customer liabilities
Binance reported reserve ratios of 100.25% for both BTC and ETH. A 100.25% ratio means the exchange reported holding approximately 1.0025 units in its reserve wallets for every unit attributed to users at the snapshot time.
USDT had a higher reported ratio of 103.62%. That ratio would place Binance’s corresponding USDT assets above the 32.9 billion tokens assigned to customers.
Binance says its Proof of Reserves system covers user assets on a 1:1 basis, with additional reserves. It uses Merkle trees and zero-knowledge proofs so customers can verify that their account balances were included without viewing other users’ information.
Customers can download the relevant verification data and compare their records with the published Merkle root. Binance also publishes wallet addresses associated with the assets included in its system.
No distinct BTC, ETH or USDT market movement could be reliably attributed to the reserve publication. The report measures customer and exchange balances rather than trading performance or directional demand.
Proof of reserves remains a limited snapshot
Proof of reserves helps determine whether disclosed on-chain assets cover the user liabilities included in a report. It does not provide a continuous record because asset and customer balances can change immediately after the snapshot.
It also does not independently assess every corporate liability, internal control, loan or off-chain obligation. The process therefore differs from a full financial audit covering an organization’s wider balance sheet and operations.
A crypto.news guide explaining how reserve verification works and where it falls short notes that useful disclosures should include assets, customer liabilities, frequent updates and user-verifiable evidence.
Binance has not announced a fixed date for its 46th report. Its recent monthly schedule suggests the next snapshot could use balances recorded around Sept. 1, although the exchange has not confirmed that timing.
The next publication will show whether customer BTC balances continued rising and whether the declines in ETH and USDT holdings persisted. Any interpretation should remain limited to reported account balances rather than assumed buying or withdrawal behavior.
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