CZ Rejects Centralization Fears as Binance Dominates USD1 Supply

A Forbes investigation found Binance and its users control about 87% of USD1’s circulating supply—roughly $4.7 billion of $5.4 billion—with Arkham Intelligence analytics corroborating the figures. The concentration is the highest single-exchange share recorded among major stablecoins and has reignited debate over centralization and systemic risk.

Changpeng Zhao pushed back on X, arguing Binance’s large holdings reflect its scale rather than control and noting that, when counting centralized exchange balances, Binance typically accounts for about 60–70% across multiple assets. Supporters emphasized that the balances belong to customers, and both Binance and World Liberty Financial have denied that the concentration implies control.

Scrutiny deepened because USD1 is tied to World Liberty Financial, launched in 2024 and listing Donald Trump as co‑founder emeritus alongside other family members. A Trump‑affiliated entity reportedly owns a significant stake and disclosures show Trump earned tens of millions from the venture.

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