- Binance reduced its BTC holdings by 94.1% and ETH by 99.9%.
- Most assets were converted into USDC, with holdings increasing by 57.5%.
- Similar asset shifts occurred in June 2023 and February 2024, potentially linked to profit-taking or financial obligations.
Binance has significantly reduced its Bitcoin (BTC) and Ethereum (ETH) holdings, converting a large portion of these assets into the stablecoin USDC.
According to data shared by AB Kuai Dong, between January and February 2025, Binance’s BTC reserves fell from 46,896 to 2,747 (-94.1%). At the same time, its ETH holdings dropped from 216,313 to 175 (-99.9%).
At Bitcoin’s present price of $98K, the converted 44,149 BTC amounts to $4.32 billion. Likewise, the liquidated ETH tokens amount to approximately $584 million at $2,700 per coin.
The move appears to be a strategic asset conversion rather than a liquidity crisis. According to Colin Wu, Binance’s holdings shift mirrors previous instances in June 2023 and February 2024, when the exchange reportedly made similar moves.
USDC is Binance’s New Crypto Flavor of Choice
Notably, the majority of Binance’s converted assets have been moved into U…
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