Binance sold over 24m of XRP amid more than $8 billion in corporate holdings. What’s going on?

Binance Exchange has sold over 24 million people the This year’s XRP holds amid a massive sale campaign involving multiple crypto assets.

Japanese cryptography researcher and founder of Mester Ab Kuai Dong first called on the public’s attention to this systematic sale from the world’s biggest exchange. so far It sparked mixed reactions from the wider crypto community.

ab kuai dong (@_forab on x) revealed that since January 2025, Binance has sold 94.1% of that. Bitcoin (BTC) heldalmost 100% of the balance of Ethereum (ETH), 99% of Solana (Sol) Holdings, and Almost 100% of USDT balance. The exchange’s BNB holdings fell by only 16.6%. Overall, Binance sold over $8 billion from the Corporate Crypto Bag.

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At the moment, many people have been placed in place, and USDC, and of which BNB is low in proportion, 16.6%, so you can see the service in January, and many people are very high on history. pic.twitter.com/1n4e5gbf3f

– ab kuai.dong (@_forab) February 11, 2025

Analysts confirmed that these sales were solely involved in Exchange corporate holdings and did not affect user balances on the platform. in fact, Generally, user reserves increased by around $4 billion between January and February 2025.

Binance sells 24M XRP

Crypto Basics I’ve seen it They fell into submission evidence (POR) of the exchange, confirming that these findings were accurate. In particular, these sales affected almost all of Binance’s corporate holdings, including XRP, but revealed that there are various divestment variations.

In particular, as of January 1, 2025, Binance It held a total of 290.9 billion XRP, with 2.79 billion tokens belonging to the client. This is shown that Exchange has an over-balanced amount of approximately 115 million XRP, representing its corporate holdings. Total balance was a reserve ratio of 104.09% to keep user funds safe.

However, the latest POR report starting on February 1, 2025 shows that Binance holds 2.838 billion. XRP, 2.747 billion tokens belong to the customer. This reduces the excess balance of approximately 90.4 million XRP with its corporate holdings of 115 million XRP in January.

Regardless, Binance’s XRP Customer Reserves It’s just the same as the exchange still Maintains an excess reserve ratio of 103.29%. Binance continues to assure customers that user balance remains safe, especially after the FTX explosions that occur due to mixing customer funds.

Binance sells other assets

Meanwhile, the sale of 24.6 million XRP, reaching $56.58 million, was one of the lowest. Overall. In addition to XRP, Binance sold 44,149 BTC ($4.2 billion), 216,138 ETH ($583.5 million), and 438,056 SOL ($85.4 million). and $2.7 billion in USDT. However, USDC holdings increased when some of these assets were converted to USDC.

In particular, these tokens represent the crypto-holdings of Binance companies realized from fees and operating revenue. reaction We are tracking recent distribution campaigns, but the exact purpose remains unknown. X’s customer support noted that this distribution is not a real sales, but a adjustment to the Treasury accounting process.

Binance does not sell assets. This was simply a adjustment to the accounting process at Binance Treasury. The user fund is SAFU as usual.

– Binance Customer Support (@binancehelpdesk) February 11, 2025

The exchange once again ensured the customer that the user’s funds were “SAFU”. In particular, the basics of cryptography have reached out to Binance to properly confirm the purpose behind recent movements. We have not received a reply as of press time. Fix new updates to this article.