Amid the current market crash, $1 billion worth of USDT was transferred from Tether’s treasury to Binance.
- The past couple of days were particularly devastating in both the cryptocurrency and the legacy markets.
- During Saturday’s trading session, Bitcoin’s price crashed to a low of around $34,000 on Binance, and it’s currently trading at around $35K, struggling to hold above that level.
- Now, Whale Alert detected that $1 billion worth of USDT was transferred from the Tether Treasury to Binance.
? ? ? ? ? ? ? ? ? ? 1,000,000,000 #УСДТ (1,000,000,000 USD) transferred from Tether Treasury to #Бинанцеhttps://t.co/pctmfmlhGy
- Обавештење о китовима (@вхале_алерт) Januar 22, 2022
- Tether was quick to explain what happened.
In few minutes, Tether will coordinate with a 3rd party to perform a chain swap, converting from Tron TRC20 to Ethereum ERC20, for 2B USDT. The tether total supply will not change during this process.
- This means that Tether has not printed any fresh USDT and is just deploying coins from Tron to Ethereum, sending them to Binance.
Бинанце бесплатно $100 (ексклузивно): Користите ову везу да бисте се регистровали и добили $100 бесплатних и 10% попуста на Бинанце Футурес првог месеца (услови).
ПримеКСБТ Специјална понуда: Користите ову везу да се региструјете и унесете ПОТАТО50 код да бисте добили 25% попуста на накнаде за трговање.
Source: https://cryptopotato.com/1-billion-just-sent-from-tether-treasury-to-binance-here-is-why/