He Yi said that DefiLlama calculates Binance reserves'USD total value based on public PoR data and coin prices on the relevant dates, and the amount fluctuates with coin prices; a user had previously questioned the reserve decline.
Article
He Yi responds to Binance reserve decline:USD Total value fluctuates with coin prices
PANews November 2 reports that Binance co-founder He Yi, replying to a user on X, stated that DefiLlama's statistics are based on publicly disclosed Proof of Reserves (PoR) data, including cold- and hot-wallet addresses, with the total value calculated using cryptocurrency prices on the relevant dates in USD, so the total amount is affected by price fluctuations; for questions about the methodology, please contact the relevant platform. Previously, an X user posted that Binance's total reserves had fallen from September 29's 151000000000 USDT to 127000000000 USDT, raising questions about this.
He Yi responds to Binance reserve decline:USD Total value fluctuates with coin prices
02
PANews November 2 reports that Binance co-founder He Yi, replying to a user on X, stated that DefiLlama's statistics are based on publicly disclosed Proof of Reserves (PoR) data, including cold- and hot-wallet addresses, with the total value calculated using cryptocurrency prices on the relevant dates in USD, so the total amount is affected by price fluctuations; for questions about the methodology, please contact the relevant platform. Previously, an X user posted that Binance's total reserves had fallen from September 29's 151000000000 USDT to 127000000000 USDT, raising questions about this.
The following is analysis, separate from reported facts. Verify important claims independently.
Binance: The response explains that USD-denominated reserves are affected by coin price fluctuations, which may alleviate some concerns about a decline in the nominal reserve amount, but it provides no new reserve data or proof that assets have not declined.USDT: Binance's USDT reserve changes have drawn attention, but this item does not demonstrate any issues with USDT redemptions or liquidity.
Why it matters to readers
PANews reported He Yi's public response regarding the methodology for calculating Binance reserves; the original claim about the reserve decline came from an X user and was not independently verified by this evidence.
Focus:Binance. Observation period: short to medium term. Focus:USDT. Observation period: short term
Risks and unknowns
Changes in user assets and platform assets in Binance's subsequent PoR snapshots
Whether DefiLlama updates its methodology or data
Whether independent on-chain evidence emerges supporting or refuting an actual decline in reserves
Binance Conditions that would reverse the assessment: Subsequent independent PoR data show a continued decline in available assets, redemption pressure emerges, or the platform issues a contradictory statement.
USDT Conditions that would reverse the assessment: Verifiable evidence emerges of USDT restricted redemptions, reserve shortfalls, or large-scale sustained withdrawals.
