The exchange's assets are more than 100% safe, according to Binance, which has finished its 17th Proof of Reserves assessment. According to the latest revelation, Binance verifies the existence of user balances in client wallets using zero-knowledge techniques. What does the report actually say, and how does it impact Binance's and the cryptocurrency sector's future?

Significant gains in user holdings are reported in Binance's 17th proof-of-reserve report. The amount of BTC held climbed by 1.08% to 6,099 BTC, the amount of ETH held increased by 11.64% to over 4.44 million, and the amount of USDT held increased by 8.36% to 21.1 billion. Additionally, consumers' BNB asset deposits rose to 6.34 million BNB, a 19.25% rise. With a net influx of 3.9 billion from the previous month, Binance's total reserve assets increased to 117.1 billion.

The exchange holds assets known as Proof of Reserves (PoR) on behalf of its users. This indicates that all user assets are covered 1:1 by Binance's money and reserves. Binance ensures that customer money are fully supported by increasing its reserves by at least one Bitcoin upon a user's deposit. Nevertheless, this does not include the institutional holdings of the exchange.

Holding all user assets (plus a small amount of reserves) at a 1:1 ratio, according to Binance, indicates that there is no debt in the capital structure and a reserve fund (the SAFU fund) for unforeseen circumstances.

Finally, assets are more than 100% safe, according to Binance's 17th Proof of Reserves report. The exchange has sufficient cryptocurrency holdings to cover all customer withdrawals, as this report demonstrates in case of emergency.