Binance USDT Holdings Fall $2.54B as Reserve Scrutiny Intensifies

Binance’s October 31 snapshot reveals a substantial contraction in customer stablecoin holdings, while Bitcoin balances increased. The changes preceded the reopening of withdrawals and cannot independently establish capital flight or a reserve shortfall. Binance’s next cryptographic verification will be an important test of its reported asset backing following the security breach. Binance recorded a $2.54 billion reduction in customer USDT holdings during October, according to its latest Proof of Reserves comparison , highlighting a significant change in the exchange’s asset composition following a multibillion-dollar security incident.