WuBlockchain
Binance, the world's largest crypto exchange by user count and trading volume, released its 43rd Proof of Reserves report on a June 1 snapshot, showing net growth in user BTC and ETH balances even as USDT holdings slipped.
User BTC rose 4.26% from May 1 to roughly 630,000 BTC, an increase of 25,838 BTC. User ETH climbed 10.17% to about 4.14 million ETH, adding 382,619 ETH over the same window. User USDT, by contrast, fell 1.33% to approximately 34.3 billion USDT, a decline of roughly 460 million USDT.
Why it matters
Proof of Reserves snapshots are the cleanest read on whether a venue is gaining or losing customer assets in net terms, and Binance publishes them monthly — making the report one of the few public, recurring data points on a major exchange's deposit base. The May-to-June move is unambiguously positive on the crypto side: both BTC and ETH balances moved up by double-digit percentages, well above any plausible price drift, which means real coins flowed onto the platform rather than balances revaluing higher.
Market impact
The split between rising native-crypto balances and falling USDT is the more interesting read. Stablecoin redemptions on the largest venue, paired with BTC and ETH accumulation, can be read two ways: holders rotating from dollars into risk assets on the same venue, or USDT migrating to competing chains and venues while value parks in native tokens. The size of the ETH move (10% in a month) is large enough that a chunk of the change is likely flow, not price — worth watching across the next one or two snapshots to see if it persists.
Source: [JavaScript is disabled](https://www.binance.com/en/proof-of-reserves)
Frequently asked questions
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What did Binance's 43rd Proof of Reserves report show?
The June 1 snapshot reported user BTC holdings of about 630,000 (up 4.26% from May 1), user ETH holdings of about 4.14 million (up 10.17%), and user USDT holdings of roughly 34.3 billion (down 1.33%).
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How much did user BTC and ETH balances grow on Binance in one month?
User BTC rose by 25,838 BTC and user ETH rose by 382,619 ETH between the May 1 and June 1 snapshots, per Binance's 43rd Proof of Reserves report.
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Why did USDT balances on Binance decline while BTC and ETH grew?
USDT holdings fell about 460 million to roughly 34.3 billion, even as BTC and ETH balances increased. The split can be read as holders rotating from dollars into risk on the same venue, or USDT migrating to other venues and chains while value parks in native tokens.
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How often does Binance publish Proof of Reserves?
Binance publishes Proof of Reserves reports on a monthly cadence, with on-chain reserve attestations for major assets including BTC, ETH, and USDT.
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Why does the Binance Proof of Reserves matter for the market?
The monthly reports are one of the few recurring public data points on a major exchange's deposit base, giving a clean read on whether a venue is gaining or losing customer assets in net terms and how users are rotating between assets.
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