"Binance Sells Its Own BTC and ETH Holdings... Over 90% Reduction in Volume"

Son Min

Summary

Binance announced a massive sale of Bitcoin and Ethereum, reducing them by 94.1% and 99.9%, respectively.
The sold virtual assets were mostly converted to USD Coin (USDC).
The holdings of Binance Coin decreased by 16.6%, marking a relatively small sale.

Binance has reportedly sold its holdings of Bitcoin (BTC) and Ethereum (ETH).

On the 10th (local time), AB Kuai.Dong, a virtual asset analyst, stated on X, "Binance is selling its own BTC and ETH," adding, "Most of the virtual assets held, including BTC and ETH, have been converted to USD Coin (USDC)." He further noted, "The holdings of Binance Coin (BNB) decreased by 16.6%, marking the least amount sold," and added, "Most coins have reached historical highs."

Meanwhile, Binance's own Bitcoin holdings decreased from 46,869 BTC in January to 2,497 BTC, and Ethereum from 216,313 ETH to 175 ETH. This represents a reduction of 94.1% and 99.9%, respectively, compared to the January holdings.