Binance's Proof of Reserves Allegations Dismissed by Czech Republic: Insights
Binance, the leading cryptocurrency exchange, has recently published its 31st Proof of Reserves (PoR) report, demonstrating its commitment to transparency and financial health. The report, based on a snapshot taken on June 1, 2025, shows that user assets remain backed 1:1, affirming the exchange's robust financial standing [1][3].
The report also reveals shifts in user holdings, with a slight decrease in Bitcoin and an increase in Ethereum holdings [2]. However, concerns about delays in the publication of the PoR report arose when a trader, James Wynn, accused Binance of skipping its monthly update.
Changpeng Zhao (CZ), Binance's CEO, swiftly addressed these concerns, explaining that the exchange takes a snapshot of reserves on the 1st of each month but releases the report a few days later after verification, which is the standard process [4]. CZ's response aimed to dispel any misconceptions about Binance's transparency and reporting practices.
CZ also dismissed claims that Binance was deliberately delaying the publication of its proof-of-reserve report. He encouraged critics to 'Check the history properly' and do their research before spreading doubts in the ecosystem [5]. Some users in the Binance community have acknowledged CZ's reply, while others believe that his response was aimed at seeking attention to gain recognition.
In other news, Nano Labs has become a BNB-only strategic reserve public company, which Zhao highlighted as a bullish signal for Binance Coin [6]. Nano Labs recently raised $500 million in a debt offering to buy Binance Coin.
Zhao has been playing an active PR role for Binance and the broader cryptocurrency industry, regularly sharing updates to clarify issues related to the Binance ecosystem [7]. Recently, he called out a comment declaring Ripple and Bitcoin dead.
The publication of Binance's proof-of-reserve report is not an indication of financial instability or improper practices. Instead, it is intended to provide transparency and reassure users about the platform's financial health. Binance continues to lead in transparency within the cryptocurrency industry, with its consistent and timely publication of PoR reports.
[1] Binance's 31st Proof of Reserves (PoR) Report Affirms Financial Health [2] Shifts in User Holdings Revealed in Binance's 31st PoR Report [3] User Assets Remain Backed 1:1 in Binance's 31st PoR Report [4] CZ Clarifies Delays in Binance's Proof-of-Reserves Report Publication [5] CZ Dismisses Claims of Deliberate Delay in Binance's PoR Report Publication [6] Nano Labs Becomes BNB-Only Strategic Reserve Public Company [7] Zhao's Active PR Role for Binance and the Cryptocurrency Industry
- Binance, the cryptocurrency exchange, has affirmed its financial health through the publication of its 31st Proof of Reserves (PoR) report, which reveals a 1:1 backing of user assets.
- The report also shows shifts in user holdings, with a slight decrease in Bitcoin and an increase in Ethereum holdings.
- Changpeng Zhao, Binance's CEO, addressed concerns about delays in the PoR report publication and dismissed claims of deliberate delays.
- In other news, Nano Labs has become a BNB-only strategic reserve public company, a move that Zhao considers a bullish signal for Binance Coin.
