Fireblocks Wallet Sends $30M to Binance Amid USD1 Token Movement

A Fireblocks wallet, labeled as 'Custody', has transferred $30 million in USD1 tokens to Binance over a 15-hour period, according to an Onchain Lens report on August 31.

The same wallet previously moved $66 million in USD1 tokens to Binance during the preceding week. The transfers are from a Solana-based address that is attributed to Fireblocks Custody by blockchain analytics, but does not necessarily mean the assets belong to Fireblocks economically.

USD1 is a dollar-pegged stablecoin issued by World Liberty Financial, which has close ties to Binance. In 2025, Abu Dhabi-backed investment company MGX used $2 billion of USD1 tokens to settle an investment in the exchange. At one point, nearly 87% of USD1's supply was held in Binance-controlled wallets and customer accounts.

The purpose behind these transfers remains unknown, but sending a stablecoin like USD1 to an exchange can indicate possible trading, market-making, or liquidity management. World Liberty has said that USD1 circulation has exceeded $4 billion due to institutional demand.