Binance’s latest proof of reserves snapshot, dated June 1, 2026, shows the exchange holding approximately 34.3 billion USDT in user balances alongside roughly 632,580 BTC. At prevailing Bitcoin prices hovering between $61,000 and $62,000, the raw dollar value of those BTC holdings comes to somewhere around $38.6 billion to $39.2 billion, which actually edges out the USDT figure.
What the numbers actually show
Binance’s 43rd monthly proof of reserves report, part of a transparency initiative the exchange has maintained since late 2022, captures both net user balances and on-chain wallet balances across hot storage, cold storage, and third-party custody arrangements.
The Bitcoin side of the ledger looks bullish. BTC balances climbed roughly 4.26% from the prior month, an increase of approximately 25,838 BTC. At current prices, users added over $1.5 billion worth of Bitcoin to their Binance accounts in a single month.
The USDT side tells the opposite story. Stablecoin holdings dropped by approximately 460 million USDT month-over-month. When Bitcoin balances are rising while stablecoin balances are falling, it typically means one thing: people are buying. Traders are converting their stable holdings into BTC, shifting from a “wait and see” posture to an “I’m in” posture.
