Binance

Binance

Global (Cayman Islands)Founded 2017binance.com ↗

Last reviewed 2026-09-21 · Methodology v1.0

Centralized Exchange

VIF Score ⓘVIF Score — Verifelse Independent Verification score. A deterministic 0–100 measure of how independently verifiable an exchange is.

74.8B

#2

of 10
VIF rankings

Reported Reserves

$153.6B

Publicly Verifiable

Liabilities

Publicly Verifiable

Global ZK proof

Proof Age

26 days

Aging · Monthly cadence

Verification

No external verifier

zk-PoR · Self-attested

Transparency Snapshot

Strong public verifiability

Binance publishes cryptographic Proof of Reserves, users can verify inclusion, reserve ownership evidence is available.

Primary limitation: No independent verifier identified; reserves are self-attested.

Reserve Coverage

101%

Reported total reserve rate

Assets ≥ in-scope balances

Exchange-published figure, not independently recomputed by Verifelse (as of 2026-09-01). Source ↗

Reserve coverage reflects only assets within the scope of the published proof, and does not by itself establish solvency.

Reserve Asset Composition

BTC35.4%$54.4B
USDT21.3%$32.7B
BNB19.8%$30.4B
ETH6.5%$9.98B
USDC4.7%$7.22B
XRP2.2%$3.38B
USD11.7%$2.61B
SOL1.6%$2.46B
Other6.7%$10.3B
Total$153.6B

Proof of Reserves

Cryptographic (Merkle / zk)✓ Active programProves liabilities

Publishes 1:1+ coverage across major custodied assets; self-attested, no external auditor.

MethodologyMerkle tree + zk-SNARK (self-verifiable user balances)
Auditor / VerifierSelf-attested (none)
CadenceMonthly
Snapshot as of2026-09-01
Official proofbinance.com ↗

Proof & Verification Artifacts

Verification matrix

Proof type
CryptographicAttestationFinancial statementsNone
Proof of Liabilities
LPORGlobal ZKMerkle-sumMerkle-inclusionAuditor-onlyNone
Wallet disclosure
FullPartialNone
Inclusion check
FullPartialNone
Verification tool
Open-source verifierInclusion self-checkNone
Third-party assurance
Financial auditAttestationAgreed-upon proceduresNone

Options are ordered strongest to weakest; the highlighted option reflects the proof method Verifelse recognizes for Binance. This describes the method, not a solvency guarantee.

VIF Score Breakdown

Top-10 VIF median
Asset Verification65 / 100
Top-10 median: 67.5
Liability Verification65 / 100
Top-10 median: 50
Proof Freshness75 / 100
Top-10 median: 65
Public Verifiability93 / 100
Top-10 median: 68.5
Methodology Transparency95 / 100
Top-10 median: 95
Incident Disclosure75.6 / 100
Top-10 median: 77.4

Third-Party Verification

External verifierNot identified
Third-party assuranceNone identified

Related Incidents

Collateral-wallet classification errorResolved

Jan 2023 · No loss established · Reserve and verification

Mazars PoR verification discontinuedMonitoring

Dec 2022 · No reserve loss established · Reserve and verification

Bitcoin hot-wallet breachResolved

May 2019 · 7,000 BTC · Security breach

View all incidents →

Expert Commentary

No expert commentary currently indexed for Binance.

This does not imply expert consensus or endorsement.