TL;DR
Binance’s latest Proof-of-Reserves report reveals that it holds more than enough XRP to cover customer balances, with a 104.26% ratio, and similarly positive ratios for Bitcoin and Ethereum.
The PoR system demonstrates Binance’s commitment to transparency and financial integrity, ensuring all customer funds are fully backed.
The latest Proof-of-Reserves (PoR) Binance report shows that XRP customer net balances equal over 2.7 billion tokens (over $1.5 billion calculated at current rates). In turn, the exchange’s net balances stand at more than 2.8 billion assets, resulting in a 104.26% ratio.
The proof-of-reserves system aims to provide transparency and build trust within Binance’s user base by showing that the exchange holds enough reserves to cover all clients balances 1:1 (as well as some backups).
In other words, it ensures that customers’ funds are fully backed and that the company operates with financial integrity. The latter is especially important considering th
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