Binance stablecoin reserves account for 60% of all exchanges

It has been analyzed that the size of stablecoin reserves held by the global cryptocurrency exchange Binance accounts for 60% of the total reserves across all exchanges.

On the 3rd (local time), CQ Research stated in a report, "Binance holds the largest stablecoin reserves among all centralized exchanges (CEX)," adding, "This amounts to about 59% of the stablecoin reserves of all exchanges." The report continued, "In terms of transparency, Binance maintains a peerless position," and added, "Binance provides transparent Proof of Reserves (PoR) reports, including wallet addresses, for its reserves."

According to the report, the total amount of reserves—including both stablecoins and cryptocurrencies—ranked Binance second with $110 billion. However, for the top-ranked Coinbase ($129 billion), there is criticism that transparency is lacking as public proof of reserves has not been implemented.

In addition, the report evaluated that Binance also leads in stablecoin inflows. The report stated, "In May, Binance saw a stablecoin inflow of $31 billion, ranking first overall," and further explained, "A cumulative $180 billion has flowed in this year, establishing Binance as the foremost exchange for capital inflow."