Binance has provided clarity regarding recent asset adjustments, emphasizing that these modifications pertain exclusively to its financial department’s accounting practices. The exchange confirmed that no assets were liquidated, assuring users that their funds remain secure under the SAFU initiative. In a notable report from COINOTAG, findings from the latest Binance Quarterly Burn indicate a marked decline in the reserve ratios for prominent cryptocurrencies. Specifically, the Bitcoin reserve ratio fell from 108.15% in January to 100.45% in February, while Ethereum reserves decreased from 104.2% to a steady 100%. The BNB reserve also saw a drop, moving from 115.75% to 112.73% in the same timeframe.
Conversely, the reserve ratio for USDC displayed a significant rise, climbing from 132.32% to 141.28%. This contrast highlights a shift in reserve allocations within Binance, with overall proprietary assets experiencing a substantial reduction estimated at $5.489 billion since January. The fluctuations in the reserve ratios reflect ongoing adjustments in Binance’s strategic asset management amidst a dynamic market environment.