Binance, one of the largest cryptocurrency exchanges, has converted a significant portion of its Bitcoin (BTC) and Ethereum (ETH) holdings into the stablecoin USDC. Between January and February 2025, Binance's BTC reserves decreased by 94.1%, and its ETH holdings dropped by 99.9%. The converted BTC amounts to $4.32 billion at the current price, while the liquidated ETH is approximately $584 million. This move is seen as a strategic asset conversion and is similar to previous instances in 2023 and 2024. The majority of the converted assets were moved into USDC. The reason behind this asset shift is not officially stated but could be part of Binance's financial strategy or a response to regulatory uncertainties. The funds involved are Binance's past revenue, not customer funds. Additionally, Binance and the U.S. Securities and Exchange Commission (SEC) have filed a motion to pause their ongoing lawsuit for 60 days, potentially due to the SEC's crypto task force.



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