Seeing “1:1 reserves,” how much more reassured can holders of $BTC , $ETH , and $BNB be? Those words carry weight, but first we need to look at the dates and scope covered by the proof.
Binance announced on November 2 that the reserve snapshot taken at 00:00 UTC on October 31 covered 10 assets, including these three. Corresponding zero-knowledge proofs had been generated, allowing users to verify with their own records that their balances were included and to check that they were backed by reserves of at least 1:1 at that time. Supporters of this approach have good reason: it lets users independently check their own accounts better than simply publishing one total wallet balance.
The questions on the other side are valid, too. A new snapshot taken at 00:00 UTC on November 4 expanded coverage from 10 to 44 assets. An announcement that day also said that about 98% of the assets affected by the security incident had been replenished. That “98%” refers to the replenishment progress for assets affected by the incident; it does not have the same denominator as whether a particular coin’s reserves meet the 1:1 threshold. A valid proof for the old snapshot applies only to that earlier point in time. It cannot automatically stand in for verification of a later snapshot, nor can it directly establish withdrawal status on every chain.
What matters more to me is whether readers can select the correct snapshot on the proof-of-reserves page, use their own record ID to verify their balance, and then compare the latest announcement to see whether the covered assets, proof status, or withdrawal support have changed. Looking at several metrics side by side is more reliable than focusing on just one percentage. This is a historical update based on announcements through November 4 and does not represent the current status of any account or platform; trading and custody both involve risk.
Binance announced on November 2 that the reserve snapshot taken at 00:00 UTC on October 31 covered 10 assets, including these three. Corresponding zero-knowledge proofs had been generated, allowing users to verify with their own records that their balances were included and to check that they were backed by reserves of at least 1:1 at that time. Supporters of this approach have good reason: it lets users independently check their own accounts better than simply publishing one total wallet balance.
The questions on the other side are valid, too. A new snapshot taken at 00:00 UTC on November 4 expanded coverage from 10 to 44 assets. An announcement that day also said that about 98% of the assets affected by the security incident had been replenished. That “98%” refers to the replenishment progress for assets affected by the incident; it does not have the same denominator as whether a particular coin’s reserves meet the 1:1 threshold. A valid proof for the old snapshot applies only to that earlier point in time. It cannot automatically stand in for verification of a later snapshot, nor can it directly establish withdrawal status on every chain.
What matters more to me is whether readers can select the correct snapshot on the proof-of-reserves page, use their own record ID to verify their balance, and then compare the latest announcement to see whether the covered assets, proof status, or withdrawal support have changed. Looking at several metrics side by side is more reliable than focusing on just one percentage. This is a historical update based on announcements through November 4 and does not represent the current status of any account or platform; trading and custody both involve risk.
