According to the report, Binance asserts that they have enough funds to cover all customer deposits. To measure this capability, Binance calculates the reserve ratio by comparing the amount of money they hold (net balance) with the amount customers have deposited on the exchange (net customer balance).
To explain further, let’s consider an example of Binance’s reserve ratio:
Reserve Ratio = 100%: This means Binance holds an amount of money equivalent to the sum of customer deposits. This creates trust and peace of mind for customers, as they know the exchange has the ability to fully pay when they want to withdraw their funds.
Reserve Ratio > 100%: If the reserve ratio exceeds 100%, it means Binance holds more money than the total amount deposited by customers. In this case, the exchange has surplus reserves, ensuring stability and the ability to handle significant demands from customers.
The report has disclosed the amount of Bitcoin and altcoins that Binance is currently holding. This information is of crucial importance as it allows users and the public to have clear insights into the exchange’s payment capability and reliability. Owning a significant amount of cryptocurrencies also reflects Binance’s scale and strength in the cryptocurrency market.
Here are the Bitcoin and altcoin counts the company announced in the report:
BTC
Reserve Ratio: 105.61% Customer Net Balance: 588,622,989 USD Binance Net Balance: 621,631,928 USD
ETH
Reserve Ratio: 102.71% Customer Net Balance: 4,068,826,253 USD Binance Net Balance: 4,179,054,896 USD
BNB
Reserve Ratio: 113.85% Customer Net Balance: 29,282,440,447 USD Binance Net Balance: 33,339,317,220 USD
USDT
Reserve Ratio: 117.99% Customer Net Balance: 15,280,149,773.177 USD Binance Net Balance: 18,028,511,181.839 USD
BUSD
Reserve Ratio: 117.90% Customer Net Balance: 1,838,334,069.651 USD Binance Net Balance: 2,167,374,260.094 USD
USDC
Reserve Ratio: 101.62% Customer Net Balance: 829,610,613.236 USD Binance Net Balance: 843,044,142.792 USD
LTC
Reserve Ratio: 100.94% Customer Net Balance: 6,417,755,433 USD Binance Net Balance: 6,477,909,211 USD
XRP
Reserve Ratio: 103.50% Customer Net Balance: 2,711,777,813.604 USD Binance Net Balance: 2,806,681,733.985 USD
LEFT
Reserve Ratio: 102.25% Customer Net Balance: 31,538,449,144 USD Binance Net Balance: 32,248,041,153 USD
LINK
Reserve Ratio: 103.95% Customer Net Balance: 54,798,237,068 USD Binance Net Balance: 56,963,125,783 USD
1INCH
Reserve Ratio: 101.49% Customer Net Balance: 142,613,307,232 USD Binance Net Balance: 144,740,551,240 USD
APT
Reserve Ratio: 102.26% Customer Net Balance: 15,623,924.98 USD Binance Net Balance: 15,977,499.103 USD
ARB
Reserve Ratio: 100.70% Customer Net Balance: 277,310,069,175 USD Binance Net Balance: 279,258,969,039 USD
CHR
Reserve Ratio: 106.26% Customer Net Balance: 340,058,734,821 USD Binance Net Balance: 361,350,169,960 USD
CHZ
Reserve Ratio: 120.74% Customer Net Balance: 3,493,438,214.334 USD Binance Net Balance: 4,217,967,855.239 USD
CRV
Reserve Ratio: 102.87% Customer Net Balance: 84,853,104,499 USD Binance Net Balance: 87,289,605,669 USD
CVP
Reserve Ratio: 101.00% Customer Net Balance: 117,309,034,132 USD Binance Net Balance: 118,486,375,675 USD
DOGE
Reserve Ratio: 100.15% Customer Net Balance: 12,672,916,031.1 USD Binance Net Balance: 12,691,528,460.191 USD
DOT
Reserve Ratio: 105.93% Customer Net Balance: 108,158,545,646 USD Binance Net Balance: 114,571,807,742 USD
ENJ
Reserve Ratio: 104.70% Customer Net Balance: 160,572,480,396 USD Binance Net Balance: 168,115,142,887 USD
GRT
Reserve Ratio: 102.67% Customer Net Balance: 759,733,574.96 USD Binance Net Balance: 780,006,309.829 USD
HFT
Reserve Ratio: 103.65% Customer Net Balance: 66,075,495,164 USD Binance Net Balance: 68,487,998,786 USD
MASK
Reserve Ratio: 103.06% Customer Net Balance: 14,170,334,918 USD Binance Net Balance: 14,603,923,504 USD
MATIC
Reserve Ratio: 119.87% Customer Net Balance: 841,878,840.83 USD Binance Net Balance: 1,009,184,461.481 USD
KISS
Reserve Ratio: 101.91% Customer Net Balance: 109,377,418,544 USD Binance Net Balance: 111,469,100,930 USD
SHIB
Reserve Ratio: 102.93% Customer Net Balance: 76,888,513,069,601.97 USD Binance Net Balance: 79,142,562,547,679.83 USD
SSV
Reserve Ratio: 101.66% Customer Net Balance: 3,785,778,821 USD Binance Net Balance: 3,848,603,810 USD
TUSD
Reserve Ratio: 119.75% Customer Net Balance: 1,966,702,656.917 USD Binance Net Balance: 2,355,065,790.531 USD
UNI
Reserve Ratio: 101.93% Customer Net Balance: 24,490,930.91 USD Binance Net Balance: 24,963,485.894 USD
WRX
Reserve Ratio: 102.16% Customer Net Balance: 250,145,023.274 USD Binance Net Balance: 255,544,303.502 USD