Binance Reserve Page Shows $1.06B USDT Surplus Over Customer Balances

The surplus is a transparency signal, but it cuts both ways: an excess of USDT over customer net balances can reflect a refill after a hack rather than a clean buffer, and without published proof users cannot verify full backing. This matters most for Binance depositors who rely on the reserve page as their only window into solvency. The open question is whether the exchange publishes the verification proof it has so far withheld, and whether the surplus persists once that disclosure arrives.