Arkham Intel reports Binance controls nearly 90% of USD1’s $5.4 billion supply as the exchange rejects political link claims tied to its stablecoin support.
Binance now controls about 87% of the USD1 stablecoin supply—$4.7 billion of the $5.4 billion total—according to Arkham Intelligence. The exchange stated its backing of USD1 aligns with support for other cryptocurrencies and denied any connection between the promotion of USD1 and former CEO Changpeng Zhao’s pardon. The concentration underscores Binance’s dominant influence in USD1 distribution and keeps scrutiny high over its market position and potential political associations.