Trump Family-Linked Stablecoin Has 87% Of Its Supply Held by Binance, The Exchange Whose Billionaire Founder CZ Was Pardoned By The President
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World’s largest cryptocurrency exchange Binance (CRYPTO: BNB) holds the lion’s share of World Liberty Financial USD (USD1), the stablecoin issued by a Trump family cryptocurrency venture.
Concentration A Red Flag?
The cryptocurrency behemoth controls $4.7 billion of the stablecoin’s $5.4 billion total supply, according to data from on-chain analytics firm Arkham, first noted on Forbes
This marked the highest concentration on any third-party exchange among the top 10 stablecoins by market capitalization. For context, Binance held only about 10% of Tether (CRYPTO: USDT), the world’s largest stablecoin, and 12.37% of USDC (CRYPTO: USDC).
Note that Binance’s 2023 settlement with the Treasury Department bars it ...Full story available on Benzinga.com
Concentration A Red Flag?
The cryptocurrency behemoth controls $4.7 billion of the stablecoin’s $5.4 billion total supply, according to data from on-chain analytics firm Arkham, first noted on Forbes
This marked the highest concentration on any third-party exchange among the top 10 stablecoins by market capitalization. For context, Binance held only about 10% of Tether (CRYPTO: USDT), the world’s largest stablecoin, and 12.37% of USDC (CRYPTO: USDC).
Note that Binance’s 2023 settlement with the Treasury Department bars it ...Full story available on Benzinga.com
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