Binance’s latest reserves show 639K BTC up 0.41%, while ETH drops by 162K and USDT falls by $1.16B in February’s snapshot.
Binance has released its latest Proof of Reserves update, offering a detailed view of user asset balances as of February 1.
The report presents changes in Bitcoin, Ethereum, and Tether holdings, and it continues the exchange’s monthly disclosure process intended to track user assets across its platform.
BTC Holdings Rise While Activity Remains Steady
The report shows that user Bitcoin balances increased compared to the previous month.
Binance confirmed that total user BTC holdings reached about 639,000 BTC. This reflects a 0.41% increase from the January 1 snapshot, equal to an addition of 2,614 BTC.
Binance released its 39th Proof of Reserves report (snapshot date: Feb. 1). User BTC holdings were about 639,000 BTC, up 0.41% from the previous snapshot on Jan. 1 (up 2,614 BTC). User ETH holdings were about 4.18 million ETH, down 3.74% (down 162,469 ETH). User USDT holdings… pic.twitter.com/rTnykKmXeF
— Wu Blockchain (@WuBlockchain) February 24, 2026
The steady rise matches recent on-chain observations showing active BTC deposits throughout January.
Binance has continued to maintain full coverage ratios for its listed assets, and BTC remains one of the most stable components of its reserve structure.
Although the increase appears modest, the exchange noted that monthly BTC inflows remain consistent.
Trading activity around Bitcoin also stayed strong during this period, which may have contributed to the higher balances.
ETH Balances Decline Across User Accounts
In contrast to Bitcoin, Ethereum holdings recorded a month-over-month decline.
Binance reported that user ETH holdings fell by 3.74%, bringing the total to about 4.18 million ETH. This represents a reduction of 162,469 ETH since the previous snapshot.
The decline follows a month of notable ETH market movement, during which users shifted assets between exchanges and self-custody.
Some analysts tracking exchange flows say that ETH withdrawals increased across multiple platforms in late January, though Binance has not provided additional context for the change.
Despite the reduction, Binance states that all ETH reserves remain fully backed. The report confirms that the exchange continues to use Merkle-tree verification to validate user balances within its reserve system.
Related Reading: Binance Reports 97% Drop in Sanctions Exposure Since 2024
USDT Holdings Drop by More Than $1 Billion
Tether balances also fell during the monthly measurement period. According to the report, user USDT holdings declined by 3.07%, totaling roughly 36.8 billion USDT.
This marks a decrease of about 1.16 billion USDT from the January snapshot.
The movement reflects a period of strong stablecoin activity across the broader market.
During January, several large holders moved funds between chains and custodial platforms.
Binance recorded steady volume in USDT trading pairs throughout the same period, which may have contributed to shifting balances.
Although USDT holdings experienced the largest numerical decline among the listed assets, Binance did not report any issues with liquidity or redemption activity.
The exchange reiterated that its reserves remain fully backed across all supported tokens.