According to Forbes, Binance holds 87% of the entire supply of Trump's stablecoin $USD1. That's $4.7 billion out of $5.4 billion total.
But the most interesting part is the timing — it reeks of a deal from a mile away. First the $USD1 listing, then a couple of days later the SEC suddenly drops the lawsuit against the exchange, Trump pardons CZ 😏
CZ basically traded liquidity and loyalty of the exchange for his freedom. Meanwhile, Binance US (for US citizens) has a pathetic $1119 in these tokens.
Meaning the "American stable" is being pumped and held through offshore entities so regulators can't touch it.
At the same time, Trump's family business via World Liberty Financial quietly pockets their $60–80 million for "storage and partnership".
What do you think — coincidence or classic win-win at users' expense?
(This is my personal take based on open data from Forbes and public events. Not financial advice, just thoughts out loud.)