Tether moves 1 billion USDT from TRON to Ethereum

The issuer of the stablecoins Tether transferred 1 billion USDT from the TRON blockchain (TRC-20) to Ethereum (ERC-20).

This is completed now!https://t.co/HSJQ3ehHhn https://t.co/bybswQBMC0

— Paolo Ardoino (@paoloardoino) August 20, 2020

The swap may have been initiated by the Bitcoin exchange Binance, but neither Tether nor Binance has confirmed it yet. Whale Alert’s bot recorded the corresponding transactions between Binance and Tether’s treasury address.

🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 600,000,000 #USDT (602,417,916 USD) transferred from #Binance to Tether Treasury

Tx: https://t.co/JxhZg3Itde

— Whale Alert (@whale_alert) August 20, 2020

🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 600,000,000 #USDT (600,533,368 USD) transferred from Tether Treasury to #Binance

Tx: https://t.co/Aa0nP56HvR

— Whale Alert (@whale_alert) August 20, 2020

🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 400,000,000 #USDT (402,298,000 USD) transferred from #Binance to Tether Treasury

Tx: https://t.co/bJRJ4Wf8oY

— Whale Alert (@whale_alert) August 20, 2020

🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 400,000,000 #USDT (400,958,257 USD) transferred from #Binance to Tether Treasury

Tx: https://t.co/i4Ku9C8VsF

— Whale Alert (@whale_alert) August 20, 2020

USDT issuance on Ethereum after the swap reached 8.497 billion. The total supply of the stablecoin, according to CoinGecko, was 12.664 billion as of writing.

A day earlier, Tether announced the release of USDT on the OMG Network — a second-layer solution for Ethereum.

For more on Tether, read the linked article.

What is Tether (USDT)?

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