According to the monthly report published by Binance on its reserves (Proof of Reserves, PoR), the company holds 618,126 BTC (around $16 billion) on its balance sheet to back customer deposits of 588,171 BTC ($15.1 billion).
According to the paper, Ethereum also has 5% excess reserves. The most collateralized assets have been MATIC (119%), USDT (118%), FDUSD (116%), BNB (114%) and CHZ (108%).
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The stablecoin BUSD, which the platform will withdraw support for next year, is 7% oversupplied.
Binance has reported only 31 of the 350 tokens listed on the platform.
According to the document:
"When a user deposits one Bitcoin, Binance's reserves increase by at least one Bitcoin to ensure client funds are fully backed. It is important to note that this does not include Binance’s corporate holdings, which are kept on a completely separate ledger."
To produce the PoR document, the exchange uses a special type of zero-knowledge proof, zk-SNARK, which prevents the leakage of personal customer data.