Binance was suspected to have significantly reduced its BTC and ETH holdings last month, turning to USDC, with BNB reducing shares being lower

PANews reported on February 11 that according to statistics from crypto KOL AB Kuai.Dong, Binance significantly reduced its own BTC and ETH positions in January, and converted most assets into stablecoin USDC. Among them, BTC positions dropped from 46,896 to 2,747 (94.1%), ETH positions dropped from 216,313 to 175 (99.9%), SOL positions decreased by 99%, and USDT positions almost cleared (99.9%).

In contrast, BNB's share reduction ratio was lower, only 16.6%, from 5.839 million to 4.869 million, with a change of about US$615 million. Meanwhile, Binance's USDC holdings increased by 57.5%, from 805 million to 1.268 billion, with a value of US$463 million.

The data comes from Binance Reserves Certificate, mainly involving the platform's own funds, rather than user deposits. Analysts believe that this move may be to make profits, adjust asset structure, enhance liquidity, or prepare for future regulatory and market fluctuations. Some users also said that the share reduction is likely to be to pay fines to US regulators.