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The extreme concentration of BUSD: 99% of supply owned by just 1% of addresses
BUSD and FTT: A tale of two tokens with strikingly similar wealth distributions — concentrated in the top 1%.
This article was published 3 years ago. Some details may no longer reflect current market conditions or recent developments. If you spot anything that needs an update, contact us.
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.
Market Cap $40.02M
24H Volume $1.1M
