Insights

The extreme concentration of BUSD: 99% of supply owned by just 1% of addresses

exchange68September 13, 2024

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Quick Take

The top 1% of addresses hold roughly 99% of the total supply of BUSD.
A similar pattern occurred with the FTT token that was issued by FTX, where the top 1% holds 99% of the supply.
Recent scrutiny comes after CFTC filing a lawsuit against Binance.
Roughly $14 billion of BUSD has left exchanges since November 2022 — leading to BUSD trading volume dropping to the lowest it has been in eight months.

Analyst

James Van Straten

Former Lead Analyst at CryptoSlate

James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century’s paramount invention.

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