According to the statistics from crypto KOL AB Kuai.Dong, Binance significantly reduced its own BTC and ETH holdings in January and converted most of its assets into the stablecoin USDC. Among them, BTC holdings decreased from 46,896 to 2,747 (a reduction of 94.1%), ETH holdings decreased from 216,313 to 175 (a reduction of 99.9%), SOL holdings decreased by 99%, and USDT holdings were almost cleared (a reduction of 99.9%).
In contrast, the reduction ratio of BNB was relatively low, only 16.6%, decreasing from 5.839 million to 4.869 million, with a change in value of approximately $615 million. Meanwhile, Binance's USDC holdings increased by 57.5%, rising from 805 million to 1.268 billion, an increase in value of $463 million.
The data comes from Binance's proof of reserves, mainly involving the platform's own funds rather than user deposits. Analysis suggests that this move may be to recognize profits, adjust asset structure, enhance liquidity, or prepare for future regulatory and market fluctuations. Some users also claim that the reduction is likely to pay fines to US regulators.
