Inside The CEX Fight: Binance vs Coinbase Reserves

On-chain information exposes Binance leads in stablecoin inflows and transparency, while Coinbase holds the largest overall CEX reserves.

Binance dominates CEX stablecoin reserves and inflows, showing deep market trust and constant institutional activity. Coinbase leads in overall reserves, however does not have public Proof-of-Reserves, unlike Binance which supplies on-chain transparency. When you want to store big funds in crypto, your choice might not be far from CEX such as Binance or Coinbase. Behind those big numbers, there is another story that is no less important.

Transparency vs. Size: Binance and Coinbase Take Different Paths

Data from CQ Research reveals that Binance leads in terms of stablecoin reserves, with total USDT and USDC deposits worth $31 billion. Coinbase is remarkable in total reserves, reaching $129 billion, compared to Binance which is at $110 billion.

Source: CQ Research study on CryptoQuant

However, in terms of transparency, Binance is in fact more open since it provides Proof-of-Reserves finish with wallet addresses.