According to recent CryptoQuant data (as of mid-February 2026), Binance holds approximately $47.5 billion in USDT and USDC reserves, representing 65% of all stablecoin holdings across centralized exchanges (CEXs)!
This figure accounts for the majority of the roughly $73 billion total stablecoins parked on platforms like OKX, Coinbase, Bybit, and others.
Key Highlights:
Dominant Position: Binance's reserves have grown 31% year over year from $35.9 billion, with USDT making up the bulk at $42.3 billion (up 36% YoY), while USDC stands at $5.2 billion (largely flat).
Competitor Comparison: OKX holds about 13% ($9.5 billion), Coinbase 8% ($5.9 billion), and Bybit 6% ($4 billion), underscoring Binance's overwhelming lead in liquidity concentration.
Market Context: Stablecoin outflows from CEXs have slowed significantly to around $2 billion monthly (down from peaks of $8.4 billion), signaling capital consolidation rather than exodus amid ongoing market volatility.
CZ's Take: Binance founder Changpeng Zhao (CZ) highlighted user trust, stating that "which exchange people trust to store their money is hard to fake," in response to discussions framing the data as proof against FUD.
This concentration reinforces Binance as the primary hub for stablecoin liquidity, enabling robust trading and market stability. However, it also ties much of the ecosystem's liquidity to a single platform. Data is dynamic verify via CryptoQuant or official sources for the latest figures.