PANews reported on February 11 that 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 stablecoin USDC. Among them, BTC holdings dropped from 46,896 to 2,747 (a decrease of 94.1%), ETH holdings dropped from 216,313 to 175 (a decrease of 99.9%), SOL holdings decreased by 99%, and USDT holdings were almost zero (a decrease of 99.9%).

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

The data comes from Binance's reserve certificate, which mainly involves the platform's own funds rather than user deposits. Analysts believe that this move may be to accrue profits, adjust asset structure, enhance liquidity, or prepare for future regulation and market fluctuations. Some users also said that the reduction in holdings is likely to pay fines to US regulators.