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10/02/26 11:51 UTC-04

Binance controls 87% of USD1 linked to Trump’s crypto project

The cryptocurrency exchange Binance is the largest holder of the USD1 stablecoin linked to Donald Trump.

At present, the exchange and its users hold about $4.7 billion worth of USD1, which accounts for approximately 87% of the stablecoin’s total supply of $5.4 billion. This is the highest concentration level among the largest stablecoins by market capitalization.

In addition, Binance expanded trading pairs for USD1 and conducted promotional campaigns encouraging users to hold the tokens. These measures helped solidify the stablecoin within the exchange’s ecosystem. As part of one promotional campaign, USD1 holders were offered rewards in WLFI governance tokens from World Liberty Financial.

The growing ties between Binance and World Liberty Financial have already attracted the attention of lawmakers. They argue that this constitutes a conflict of interest. Trump is simultaneously a beneficiary of a major cryptocurrency business and the president overseeing regulatory policy. On the other hand, Binance still cannot operate in the country with its main platform.

On the other hand, it is precisely this connection with the crypto exchange that is used to explain Donald Trump’s decision to pardon Binance founder Changpeng Zhao and allow him to retain a controlling stake in the company.

See also: "Binance replenished its insurance fund with $300 million in bitcoin"

#Binance #USD1

Editor: Yulia Krasnaya
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