An address holding $2B worth of World Liberty Financial’s stablecoin, USD1, has transferred $600M in USD1 to Binance. The transfer was made over 3 transactions of $200M each, to three Binance deposit addresses, 0x346, 0x41e and 0xd11. Prior to the transactions, four test transactions of 100 USD1 were sent to each of these addresses and a fourth deposit address, 0x527. A fourth transaction of $200M could potentially be executed this week to this address. The address, 0x208, was initially funded with the USD1 from a suspected DWF Labs address, 0x81E, and still holds $1.4B in USD1, making them the top holder of the stablecoin.
The USD1 stablecoin was listed on Binance just last week on the 22nd, with the movement possibly linked to providing liquidity on the exchange. Others speculate that this address could be linked to the Abu Dhabi-based MGX fund, which recently closed a $2B investment into Binance, which was to be funded in UDS1.
Information provided herein is for general educational purposes only and is not intended to constitute investment or other advice on financial products. Such information is not, and should not be read as, an offer or recommendation to buy or sell or a solicitation of an offer or recommendation to buy or sell any particular digital asset or to use any particular investment strategy. Arkham makes no representations as to the accuracy, completeness, timeliness, suitability, or validity of any information on this website and will not be liable for any errors, omissions, or delays in this information or any losses, injuries, or damages arising from its display or use. Digital assets, including stablecoins and NFTs, are subject to market volatility, involve a high degree of risk, can lose value, and can even become worthless; additionally, digital assets are not covered by insurance against potential losses and are not subject to FDIC or SIPC protections. Historical returns are not indicative of future returns.