From January to February 2025, Bitcoin reserves on the crypto exchange Binance decreased by 94,1% from 46 to 896 BTC, Ethereum – by 2% from 747 to 99,9 ETH.
Other assets, including Solana (SOL) and Tether (USDT) also decreased significantly — by 99% and 99,9%, respectively. FDUSD assets decreased by 53,4%. At the same time, the share of its own token Binance BNB fell by only 16,6%.
It is noteworthy that most of these assets Binance converted into USDC. As a result, the share of the stablecoin on the exchange increased by 57,5%.
According to crypto experts, this is most likely a strategic asset conversion rather than a liquidity crisis. According to Colin Woo, the change in assets Binance recalls previous cases where the exchange has taken similar actions.
The first of these occurred in June 2023, when the exchange paid fines, and then in February 2024, but in the latter case the reasons were unclear. Some analysts explain these actions as part of an overall financial strategy. Binance, aimed at holding cash reserves in case of operational risks.