Binance has released its latest Proof of Reserves report, showing a strong level of asset backing for user funds. As per the snapshot taken on November 1st, Binance boasts over $606,356 BTC in reserves, with a reserve ratio exceeding 102%. This reveals a significant commitment to holding enough assets to meet withdrawal demands at any time. The report also details substantial holdings of ETH (100%), BNB (112.95%), and USDT (107.45%). The use of Proof of Reserves serves as a crucial safeguard, ensuring public verification that Binance’s user assets are backed 1:1 and that customer funds are fully protected. This transparent method helps build trust in the platform amidst growing scrutiny from regulators worldwide.