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Binance completes zero-knowledge proof for October 31 reserves snapshot
Binance says it completed a zero-knowledge proof, a cryptographic check that does not reveal underlying data, for reserves recorded at 00:00 UTC on October 31, 2026. It says users can verify their balances were counted and that ten listed tokens had reserve backing of at least 100%.
Published:
Updated:
What happened
Binance says it completed a zero-knowledge proof, a cryptographic check that does not reveal underlying data, for reserves recorded at 00:00 UTC on October 31, 2026. It says users can verify their balances were counted and that ten listed tokens had reserve backing of at least 100%.
Confirmed
Global impact / market context
The proof gives users a way to check that their own balances were included and that reported reserves cover customer liabilities, which may support confidence in withdrawals and reduce pressure to move funds. It does not, by itself, establish how reserves may change after the snapshot.
Analyst inference
The announcement followed a reported drain of approximately $6.3 billion from Binance hot wallets on October 29 and 30. That timing makes reserve transparency especially relevant to users’ willingness to keep assets on the exchange, though the article does not link the proof to the wallet outflows.
Analyst inference
What to watch
- Check whether users can successfully verify their balances through the open-source tool Binance says is available on its Proof of Reserves website and GitHub. Analyst inference
- Watch for a later reserve snapshot: this proof covers balances recorded at 00:00 UTC on October 31, so it does not show subsequent changes. Analyst inference
- The article reports Bitcoin backing at 100.04% and BNB at 101.30%; watch whether later published ratios remain above customer liabilities. Analyst inference
Affected assets
- USDT — Tether
- BTC — Bitcoin
- ETH — Ethereum
- SOL — Solana
- XRP — XRP
- BNB — BNB
- USDC — USD Coin