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.
? ? ? ? ? ? ? ? ? ? ១.០០០.០០០.០០០ # USDT (1,000,000,000 USD) transferred from Tether Treasury to # ប្រាក់https://t.co/pctmfmlhGy
- ការដាស់តឿនត្រីបាឡែន (@whale_alert) ខែមករា 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.
Binance Free $100 (ផ្តាច់មុខ)៖ ប្រើតំណនេះដើម្បីចុះឈ្មោះ និងទទួលបាន $100 ដោយឥតគិតថ្លៃ និងថ្លៃសេវា 10% លើ Binance Futures ខែដំបូង (លក្ខខណ្ឌ) ។
ការផ្តល់ជូនពិសេស PrimeXBT៖ ប្រើតំណភ្ជាប់នេះដើម្បីចុះឈ្មោះ និងបញ្ចូលលេខកូដ POTATO50 ដើម្បីទទួលបានការបញ្ចុះតម្លៃ 25% លើថ្លៃជួញដូរ។
Source: https://cryptopotato.com/1-billion-just-sent-from-tether-treasury-to-binance-here-is-why/