$1 billion worth of USDT was sent from Tether treasury to Binance.
As the crypto market continues to bleed, Tether transferred $1 billion USDT to Binance.
The last few days have been pretty rough for the crypto markets. Bitcoin’s value slumped as low as $34,000 on Binance, and altcoins followed the lead crypto with double-digit drops.
Whale Alert tweeted that Tether transferred $1 billion worth of USDT to Binance.
Tether made a statement as to why this transfer originated:
“Tether will perform a chain swap to convert $2 billion USDT from Tron TR20 to Ethereum ERC20 in a few minutes and will collaborate with a third party for this. There will be no change in the total supply of Tether during this transaction.”
Risk Disclosure: The articles and articles on Arover.net do not constitute investment advice. Bitcoin and cryptocurrencies are high-risk assets, and you should do your due diligence and do your own research before investing in these currencies.
