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Binance Adds USD1 Trading Pairs, Converts B-Token Collateral to USD1

Binance Expands USD1 Support

Binance has expanded its support for USD1, a stablecoin linked to World Liberty Financial and Donald Trump's crypto ventures.
New spot trading pairs added: ETH/USD1, SOL/USD1, BNB/USD1.
Fee-free swaps between USD1 and other major stablecoins are now available.

Shift in Collateral

Binance will convert collateral from Binance-Peg BUSD to USD1 at a 1:1 ratio.
This conversion is expected to be completed within one week, integrating USD1 into Binance's liquidity systems.

Market Reaction

Increased buying interest observed in BNB and other tokens post-announcement.
Improved liquidity and expanded trading routes contributed to the positive market response.

Backing and Market Cap

USD1 is backed by US Treasury bills, cash, and equivalents, maintaining a one-to-one exchange rate with the dollar.
The stablecoin's market cap is approximately $2.7 billion, with notable use in a $2 billion Abu Dhabi investment deal.

Political Context

Trump's pardon of Binance’s former CEO has raised concerns about Binance's ties with Trump-related crypto interests.
Calls for transparency have increased, with scrutiny over potential conflicts of interest.

Binance and World Liberty Financial maintain that no political favors influenced their business decisions.