Binance is suspected of significantly reducing its own cryptocurrency holdings and reallocating to stablecoins, with BTC and ETH holdings decreasing by over 94%

ChainCatcher news, according to statistics from crypto blogger AB Kuai.Dong, the proof of reserves data from Binance shows that from January to February 2025, Binance's BTC holdings decreased from 46,896 to 2,747, a drop of 94.1%; ETH holdings decreased from 216,313 to 175, a drop of 99.9%; it is important to note that these assets are mainly from the platform's past revenue, not user funds.

Currently, most cryptocurrencies have been reallocated to the stablecoin USDC, with USDC holdings increasing from 805 million to 1.269 billion, an increase of 57.5%. Based on the market conditions in January, most cryptocurrencies are at historical highs.