CZ stated Binance holding 87% of USD1 displays person demand, arguing the alternate dominates most main stablecoins.
Binance customers maintain about 87% of USD1, the Trump-linked stablecoin, in accordance with a Forbes report revealed on February 9, 2026, placing many of the token’s circulating provide on a single alternate.
The focus has drawn criticism on-line, however Binance founder Changpeng “CZ” Zhao says the figures replicate person demand throughout stablecoins moderately than particular remedy tied to politics.
Trade Dominance Attracts Focus
The Forbes report found that Binance controls roughly $4.7 billion of the $5.4 billion USD1 provide, primarily based on Arkham Intelligence information. That could be a increased share than any single alternate holds of different top-10 stablecoins, with Forbes noting that the holdings embrace each Binance-controlled wallets and buyer balances, although it stays unclear how a lot belongs to the alternate itself.
World Liberty Monetary, a crypto enterprise backed by a number of members of President Donald Trump’s household, launched the token in March 2025, with CZ among the many first to publicly share the information.
Trump can be listed as co-founder emeritus, and several other entities affiliated with him are entitled to a big share of proceeds from the challenge’s governance token, WLFI.
The custody focus drew criticism from unbiased researcher Molly White, who instructed Forbes it creates “theoretical danger” if property turn out to be tied up in authorized or operational disputes. Corey Frayer, a former adviser to the SEC chair, went additional, questioning whether or not USD1 was designed to perform as a broad stablecoin in any respect.
Nonetheless, Zhao responded on social media, writing,
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“Binance (customers) maintain the most important % of most stablecoins (USDT, USDC, USD1, U … you identify it) in comparison with all different CEXs. Not information.”
The backlash across the token sits inside wider scrutiny of Zhao and Binance. The previous CEO received a presidential pardon in October 2025 after pleading responsible in 2023 to compliance failures tied to anti-money laundering controls.
His legal professional said in a November 2025 interview that the case was regulatory in nature and rejected claims of political favors.
A Sample of FUD and Market Actuality
The dialogue can be occurring amid what CZ and Binance executives are describing as a coordinated marketing campaign of worry, uncertainty, and doubt (FUD).
Earlier within the month, Zhao exposed a faux social media account with 863,000 followers that used AI-generated photos of him to first pose as a supporter after which unfold adverse sentiment. Moreover, a separate AI evaluation report alleged a “intentionally organized and coordinated smear marketing campaign” in opposition to the alternate.
Market information suggests Binance’s dominance extends far past one stablecoin, particularly contemplating {that a} CryptoQuant report from January showed Binance captured 41% of spot buying and selling quantity and 42% of Bitcoin perpetual futures quantity amongst high exchanges in 2025.
In accordance with the report, the alternate additionally held 72% of the mixed USDT and USDC reserves on main platforms, a context that helps Zhao’s argument that giant person holdings on the alternate are typical.
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