Blockchain analytics firm Bitquery's investigation, published on October 22, revealed that Binance-affiliated wallets transferred $23.1 billion USDT to Tether in 2026, while receiving $15.6 billion, resulting in a net outflow of $7.5 billion. This contrasts with a net inflow of $6.4 billion in 2025. This reversal coincides with a decrease in Binance's tracked Ethereum stablecoin holdings from $43.9 billion in April to $38.8 billion on October 22, raising questions about a potential decline in Binance's trading platform purchasing power as Bitcoin struggles around $80,000.