Binance receives nearly $100M in USD1 stablecoin transfers

Approximately $96 million in USD1, a stablecoin issued by World Liberty Financial, has been transferred from a Fireblocks custody wallet to the Binance cryptocurrency exchange between August 20 and August 31.

Onchain data from tracker Onchain Lens indicates that a single 15-hour period ending August 31 saw the movement of 30 million USD1 tokens on the Solana network. This follows a series of previous transfers, including $28 million moved over a 21-hour window on August 25 and an additional $66 million transferred during the preceding week.

While the blockchain records confirm the movement of tokens between the Fireblocks-labeled address and Binance, the specific purpose of these transfers and the identity of the beneficial owner have not been publicly disclosed by Fireblocks, Binance, or World Liberty Financial.