Binance held about $165 billion in crypto reserves on October 1, accounting for 68.7% of the $240.2 billion tracked across eight major centralized exchanges. Its reserves rose from $154.3 billion in September, driven partly by higher asset prices and fresh deposits, while the combined reserves of all eight exchanges increased by $18.33 billion over the month. Binance recorded net inflows of 25,155 BTC, while its seven largest rivals collectively saw net outflows of approximately 3,950 BTC. Bitcoin made up 34% of Binance’s reserves, followed by USDT at 19%, BNB at 16.5% and WBETH at 5%. The platform’s reserve attestations show ratios of at least 100% for its major assets, but this concentration creates a heightened risk of market dependence on a single exchange.
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