Binance released an announcement saying that as part of its ongoing monitoring of stablecoin reserves, Binance reviews and validates FDUSD's reserve data on a monthly basis. It was reviewed and validated when the February Proof report was released, and another round of checks was conducted a few hours earlier to reconfirm the accuracy of the data. The February certification report commissioned by FD121 Limited (the issuer of FDUSD) and conducted by Prescient Assurance, an independent third-party audit firm, revealed that as of 1:00 am (UTC) on March 1, 2025, the total reserves of FDUSD were $2,051,348,188.70 in the form of US Treasuries and overnight time deposits. This amount exceeded the total circulating supply of FDUSD at the time, confirming that FDUSD could be exchanged for US dollars at a 1:1 ratio. For the upcoming March Proof report, Binance will conduct an in-depth review of FDUSD's reserves. The March Proof report is expected to be released in the next two weeks.