Binance reported total reserves of $155.64 billion, a figure that puts it far ahead of its rivals and highlights its scale and liquidity. These reserves are mostly made up of Bitcoin and stablecoins backed by tokens owned by the exchange itself.
Of Binance’s total reserves of $155.64 billion, approximately $49.84 billion were Bitcoin-linked assets, representing about 32.03% of the total, while stablecoins totaled $47.47 billion, equivalent to around 30.5%. The exchange’s proprietary tokens, led by BNB, reached $34.20 billion, to which were added $14.16 billion in other altcoins and nearly $10 billion in Ethereum-related assets.
Binance presented its Proof of Reserves scheme using a Merkle tree-based audit and stated that it continues to refine its reporting methodology to provide greater clarity on net account balances and the assets included in the audit scope.
Compared to its main competitors, Binance maintains a significant advantage in reserve size. The January rankings showed that the exchange is far ahead of the rest of the market, with OKX in second place at $31.29 billion, followed by Bybit at $14.17 billion. Further down the list were Gate at $7.86 billion, HTX at $6.92 billion, Bitget at $5.33 billion, MEXC at $2.97 billion, and KuCoin at $2.16 billion.
Binance and total dominance over other exchanges
In terms of composition, these platforms tended to exhibit a greater relative concentration in Bitcoin and stablecoins, and in several cases offered less detail on tokens owned by the exchange and other altcoins. This difference in the breakdown reinforces the perception that Binance not only leads in reserve volume but also in the breadth and transparency of the assets it reports.
In a post-2022 environment where reserve transparency has become a basic expectation, the scale and mix of an exchange’s holdings directly inform assessments of operational resilience and withdrawal capacity.
Regulators and auditors, who previously pushed for clearer definitions of assets within scope and independent verification, remain focused on whether Proof-of-Return (PoR) processes and disclosures meet supervisory expectations.
Ongoing refinement of audit methodology and clearer third-party attestation will determine how much weight stakeholders place on these reported figures going forward.
