Binance, the world’s largest cryptocurrency exchange, has once again demonstrated its commitment to transparency by confirming that all major user assets are fully backed 1:1 or more, according to its ongoing Proof of Reserves (PoR) system.
In a recent update announced today, Binance refined the presentation of its PoR data to provide even greater accuracy and clarity. The exchange emphasized that
“all account assets on Binance are always fully backed and can be verified on-chain at any time. We are showing evidence and proof that Binance has funds that cover all of our users’ assets 1:1, as well as some reserves.”
This adjustment expands the scope of included balances, ensuring a more comprehensive reflection of user holdings while maintaining over collateralization for key cryptocurrencies.
Binance’s PoR system, pioneered in late 2022 and enhanced in 2023, utilizes advanced cryptographic techniques including Merkle trees and zk-SNARKs (zero-knowledge Succinct Non-interactive ARguments of Knowledge). This allows users to independently verify that their individual account balances are included in the total liabilities without revealing sensitive personal data.
Here’s how it works:
- User balances are hashed and organized into a Merkle tree, where each leaf node represents an account.
- zk-SNARKs prove that the sum of all leaf nodes equals or exceeds the published reserves, while confirming no negative balances or exclusions.
- Users can log in to their Binance account, retrieve their Merkle proof, and verify inclusion directly on the platform.
The latest snapshot continues to show reserve ratios exceeding 100% for major assets like Bitcoin (BTC), Ethereum (ETH), and stablecoins such as USDT and USDC. Binance holds additional reserves beyond user deposits, providing an extra layer of security.
This update comes amid Binance’s consistent monthly PoR reports throughout 2025, where reserve ratios have remained strong. The exchange’s open-source approach to zk-SNARK integration sets an industry standard, allowing third-party audits and public scrutiny.
Users are encouraged to visit Binance’s official PoR page to check the latest data and perform personal verifications.
