According to statistics from crypto KOL AB Kuai.Dong, Binance significantly reduced its own BTC and ETH holdings in January and converted most 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 nearly zeroed out (a reduction of 99.9%).
In contrast, the reduction ratio of BNB is relatively low, only 16.6%, decreasing from 5.839 million to 4.869 million, with a change in value of approximately 615 million USD. At the same time, Binance's USDC holdings increased by 57.5%, rising from 805 million to 1.268 billion, appreciating by 463 million USD.
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 for profit taking, adjusting asset structure, enhancing liquidity, or preparing for future regulatory and market volatility. Some users also claim that the reduction is likely to pay fines to US regulatory agencies.
