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$30M in USD1 Tokens Flow into Binance as Fireblocks Wallet Continues Large Deposits

Guavy AI Editorial Team
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BNB SOL
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A Solana wallet associated with Fireblocks Custody transferred $30 million in USD1 tokens to Binance over a 15-hour period, according to Onchain Lens. The same wallet had previously sent $66 million in USD1 tokens to the exchange.

The transaction is part of a series of large deposits from the same address, but the purpose and beneficial owner of the funds remain unknown.

USD1 is a dollar-pegged stablecoin associated with World Liberty Financial, which has ties to Binance. The company's CEO, Zach Witkoff, attributed the expansion of USD1's circulation, exceeding $4 billion, to institutional demand.

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