Forbes: Binance currently holds about 87% of the circulating supply of the USD1 stablecoin
According to an analysis by Forbes of data from blockchain analytics platform Arkham Intel, as of Monday, approximately 87% of all circulating USD1 stablecoins are held in Binance's own wallets and user accounts—accounting for about $4.7 billion of the total supply of $5.4 billion—making Binance the third-party trading platform with the highest concentration of holdings among the top ten stablecoins by market capitalization. Binance responded that its support for USD1 is no different from that of other cryptocurrencies, and it is common for large exchanges to hold significant amounts of specific tokens, and that there is no relation between Changpeng Zhao's pardon and the promotion of USD1. World Liberty Financial stated that the related promotions are standard practice, denying that Binance could exert influence over them. The White House Press Secretary stated that Trump has never and will not be involved in any conflict of interest.
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