Binance Controls 87% of Trump's $USD1 Stablecoin Supply
A recent report by Forbes states that cryptocurrency exchange Binance controls a dominant 87% of the total supply of $USD1, a stablecoin linked to the Trump family. This substantial holding translates to approximately $4.7 billion held on Binance, encompassing both exchange wallets and user balances, out of the stablecoin's total circulating supply of $5.4 billion. This level of concentration, marking the highest proportion observed at any third-party exchange among the top 10 by market capitalization, makes the single-point-of-failure risk particularly acute for $USD1 compared to its peers. $USD1 is issued by WorldLibertyFi (WLFI), with a Trump-affiliated LLC reportedly holding approximately 38% ownership of WLFI. Before this report, $USD1 had achieved a market capitalization of $5.36 billion, positioning it as the world's fourth largest stablecoin globally, surpassing $DAI, and ranking behind only $USDT, $USDC, and $USDe. The disclosure of Binance's extensive control over $USD1's supply emerges shortly after Binance founder Changpeng Zhao (CZ) received a presidential pardon.
Bessent Pushes CLARITY Act, Challenges Coinbase
Treasury Secretary Bessent has publicly advocated for the immediate passage of the CLARITY Act. She stated that the proposed legislation is essential for advancing President Trump's crypto agenda. Secretary Bessent specifically highlighted Coinbase's opposition to the Act during her remarks, publicly questioning the cryptocurrency exchange's stance on the proposed bill.
Jupiter Airdrop Changes Spark User Backlash, $JUP Price Drop
Jupiter Exchange is currently facing accusations from users regarding alterations to its airdrop program. A user claims the exchange reduced the airdrop allocation by nearly 50% and extended the distribution deadline to January 30. These reported changes, announced on Discord, are alleged to be an attempt by the platform to generate increased trading volume and revenue. These accusations have coincided with negative market reactions for Jupiter's native token, $JUP. The token experienced a price decrease exceeding 20% in the past seven days, including a 15.44% plunge in a 24-hour period. $JUP was identified as a top daily crypto loser on February 26. This downturn has been attributed to large holders. Community sentiment surrounding $JUP has turned negative following these developments, with user dissatisfaction evident. Sentiment scores for $JUP during this period reflected a predominantly bearish outlook, ranging from -86 to -13.
Multicoin Co-founder Slams HyperliquidX: 'Everything Wrong With Crypto'
Kyle Samani, co-founder of Multicoin Capital and an early investor in $SOL, has publicly criticized the decentralized derivatives exchange HyperliquidX. Samani stated that HyperliquidX is "in most respects everything wrong with crypto," a declaration that has prompted numerous comments on X. This criticism targets a platform that has demonstrated significant growth, processing approximately $2.6 trillion in notional trading volume in 2025, surpassing Coinbase's reported $1.4 trillion for the same period. Its cumulative trading volume has since exceeded $2.74 trillion. HyperliquidX currently commands approximately 80% of the decentralized perpetuals market, an increase from about 60% observed in mid-2025. The platform also reported generating around $250 million in revenue during Q4 2025, with $233.8 million derived from perpetuals, $11.5 million from spot trading, and $3.7 million from L1 activities. Following Samani's comments, community sentiment surrounding HyperliquidX showed sentiment scores dropping as low as -58 and -85 in various online interactions.
Kyle Samani Reportedly Departs Multicoin Capital
Kyle Samani has reportedly departed from Multicoin Capital. His departure has led to suggestions within the crypto community regarding its potential impact on $SOL. A related post claimed Samani's move would be a bullish catalyst for $SOL if he were to adopt a "Michael Saylor"-like strategy for the cryptocurrency. Michael Saylor, CEO of MicroStrategy, is known for his consistent accumulation of Bitcoin with a long-term holding perspective.