$96M Trump-linked USD1 transfer trail puts Binance concentration back in focus

An on-chain tracker flagged the movement of 30 million World Liberty Financial USD (USD1) from Fireblocks’ custody wallet to Binance in the last 15 hours, ending August 31. This continues the trend, which has already moved most Trump-related stablecoins to a single offshore exchange. In the context of the global cryptocurrency market, which increasingly relies on stablecoins to settle trades, this concentration is a key point. It implies that a large portion of the money behind a leading dollar stablecoin is available on just one platform. One wallet, one exchange, tens of millions at a time The latest transfer was not an isolated move. The same custody address, 9Rycov…4xfCxk, sent 28 million USD1 to Binance across three transfers of 10 million, 15 million, and 3 million within 21 hours on August 25, according to Onchain Lens. The next day, the tracker disclosed that there had been an extra 10 million USD1 in deposits and transfers over the week, making a total of 66 million USD1. All flows were directed to Binance, the leading crypto exchange in the world, which already had over 300 million total customers and achieved $7.1 trillion in spot trading volume in 2025, according to the exchange’s year-end report. TRUMP-BACKED solana:USD1ttGY1N17NEEHLmELoaybftRBUSErhqYiQzvEmuB KEEPS FLOWING TO BINANCE Fireblocks Custody sent another 30M solana:USD1ttGY1N17NEEHLmELoaybftRBUSErhqYiQzvEmuB to Binance over the past 15 hours. Address: 9Rycov3U4efJf5HiqZYGjN7qJJHEtMsj4vbmkG4xfCxk pic.twitter.com/w5n2RzlKWE — Onchain Lens (@OnchainLens) August 31, 2026From all of the data put together, in recent events, the tracker reveals exactly $96 million being transferred from the Fireblocks custody wallet to Binance between the dates of August 20 and 31. According to the update provided on August 26, the total amount of seven-day transfers reached $66 million, of which $28 million took place in the last 21 hours, and $10 million was the latest deposit. Therefore, the $28 million accounts for what happened in the earlier part of the rolling window. The further $30 million reported on August 31 brought the total minimum amount of these transactions to $96 million. The graph indicates the gross transfers received by Binance without taking into account the net exchanges or ownership of the tokens, since the tracker does not indicate if the tokens have since left the exchange. According to DefiLlama, USD1 is the fifth-largest stablecoin, boasting a market cap of $4.17 billion and a gain of 4.1% over the past week, trailing behind Tether, USD Coin, Sky Dollar, and Dai, but ahead of USDe by Ethena. BitGo Bank & Trust, National Association, an OCC-licensed national trust bank, is responsible for issuing and redeeming the token, while the brand USD1 belongs to World Liberty Financial.