Binance releases 18th proof of reserve

The company noted an 8% rise in USDT holdings as the largest increase of the top five cryptocurrencies. Tether assets grew by over $1.6 billion month-on-month, sitting around $22.8 billion USDT at press time. BNB and Solana surged by 3.7% and 2.7% respectively as users added to existing stockpiles. The reserves for BNB and SOL were reported as 40 million and 31 million.

Crypto’s second-largest asset, Ethereum, was the only top five token to experience a decrease in user balances. Binance’s PoR showed a 1.9% fall in ETH reserves, reducing by some 87,796 Ether. The latest net customer Ethereum holdings amounted to 4.3 million ETH coins.

Binance’s May 7 report is the first PoR audit published since former CEO Changpeng Zhao was issued a four-month sentence, following a multi-year saga between the crypto exchange and the U.S. Department of Justice. Richard Teng succeeded Zhao, and the new CEO pointed to a “greater maturity” in the company’s operations.