Forbes: Binance currently holds about 87% of the circulating supply of USD1 stablecoins

According to an analysis by Forbes of data from the blockchain analytics platform Arkham Intel, as of Monday, approximately 87% of all circulating USD stablecoins (USD1) are held in Binance's own wallets and user accounts—amounting to about $4.7 billion out of a total supply of $5.4 billion—making Binance the 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, asserting that there is no connection between Changpeng Zhao's pardon and the promotion of USD1. World Liberty Financial stated that the related promotions are standard practice and denied that Binance could exert influence over them. The White House Press Secretary stated that Trump has never been and will not be involved in any conflict of interest.