Here’s How Much Bitcoin, XRP Binance Holds for Users in 2024

The largest crypto trading platform, Binance, has published details on the amount of Bitcoin, XRP, and other crypto assets it holds on behalf of crypto enthusiasts.

Notably, the latest publication represents the 15th in the series of Binance efforts to disclose data concerning cryptocurrencies under its watch.

Emphatically, the exchange has published monthly proof-of-reserve (POR) reports since late 2022, when its rival platform FTX imploded.

As with previous editions, the Binance proof-of-reserve (POR) report indicated that the exchange holds users’ deposits in at least a one-to-one ratio. Among the top assets Binance holds are Bitcoin (BTC), Ethereum (ETH), XRP, and its native token, BNB.

How Much Bitcoin Binance Holds

Specifically, while customers have entrusted 594,688 BTC tokens to the exchange, Binance oversees 609,477 BTC in net balance. These figures reflect an over-collateralized ratio of 103.79%.

Meanwhile, in last month’s POR report, Binance held 575,852 BTC for users. In other words, the exchange has recorded a 3.27% increase in BTC holdings after adding 18,836 tokens. Overall, Binance manages over $25.62 billion worth of Bitcoin for crypto enthusiasts.

The XRP in Binance Portfolio

Similarly, Binance holds more than 100% of the quantity of XRP tokens users have entrusted to it. The POR report noted that Binance holds 2,761,728,028 (2.76 billion) XRP for customers with a comparable net balance. 

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The figure translates to overseeing $1.38 billion in XRP. Notably, as of January 2024, the exchange managed 2.74 billion XRP. Essentially, the new record showing an increase of 18,225,961 tokens implies a paltry 0.66% growth.

Binance’s Ethereum Holding

Meanwhile, like Bitcoin, the prominent exchange registered a more notable 4% growth in the quantity of ETH tokens it oversees. In particular, Binance now holds 4,163,085 ETH tokens compared to 4,002,782 in January.

Notably, the ratio of its customers’ deposits to its net balance is 104.58%. In monetary terms, Binance manages Ethereum valued at over $9.87 billion.

Stablecoins

Binance’s 15th POR report highlighted prominent stablecoins such as USDC, USDT, TUSD, and FDUSD. Interestingly, the exchange maintains a substantially higher ratio of customers’ stablecoin deposits compared to its net balance.

For instance, Binance holds 49% more USDC, totaling 1.507 billion, compared to its users’ deposits of 1.01 billion.

Binance emphasized that these figures exclude its corporate holdings, which it maintains on a distinct ledger.

Additionally, the company underscored that it carries zero debt in its capital structure and has established an emergency fund known as the SAFU fund to address extreme situations.