$USDC Binance, the largest crypto exchange, manages 59% of all stablecoin reserves on centralized exchanges, amounting to $31. 45 billion in USDT and USDC. This is more than triple that of the next largest competitor, OKX, which has $8. 2 billion. The total market for stablecoins has surpassed $254 billion, with Tether's USDT being the largest at over $153 billion. Interest in stablecoins is rising, as seen with Donald Trump’s World Liberty Financial launching a dollar-pegged stablecoin.

Binance also leads in Bitcoin inflows, receiving $31 billion in USDT/USDC deposits as of May, just ahead of Coinbase's $30 billion. Together, Binance and Coinbase account for 60% of reserves among the top 20 exchanges. By 2025, cumulative inflows for Coinbase and Binance were $344 billion and $335 billion, respectively. On May 22, after Bitcoin hit a record high, Binance noted the largest average deposit size of 7 BTC among major exchanges.