Exchanges regularly publish proof of reserves to demonstrate their reserve ratios. These proofs provide detailed information about the quantities of various assets held by Binance and their health. Especially in the current challenging market, strong proof of reserves helps stabilize user confidence. Although Binance recently experienced the global financial unrest, its proof of reserves suggests it was unaffected. It's necessary to explain what proof of reserves is. Since the FTX incident, more and more exchanges have recognized the importance of proof of reserves. (Of course, some started publishing them much earlier.) Proof of reserves essentially proves the assets held in custody. For example, if a user deposits 1 ETH, Binance must hold a corresponding 1 ETH in reserves to ensure a 1:1 ratio between the user's deposits and liabilities on Binance.