$96 Million in Trump-Linked Stablecoin Flows to Binance

A recent on-chain tracking report has revealed that a custody wallet managed through Fireblocks' institutional infrastructure moved at least $96 million worth of USD1, a stablecoin tied to World Liberty Financial, to Binance over an 11-day period ending August 31.

The latest tranche of $30 million landed on the exchange within a 15-hour window, reigniting concerns about the token's concentration on a single offshore venue.

USD1 has rapidly climbed the stablecoin rankings and is now the fifth-largest with a market cap of $4.17 billion, up 4.1% over the past week.

The token is issued and redeemed by BitGo Bank & Trust, an OCC-licensed national trust bank, while the USD1 brand belongs to World Liberty Financial.