Tether
Moves 23% of USDT on TRON to Ethereum Network
Leading stablecoin issuer
Tether has moved 23% of the USDT supply from the TRON blockchain to Ethereum,
meaning $1 billion worth of TRC-20 tokens out of the $4.3 billion were moved
into Ethereum.
Speaking to The Block, Tether
CTO Paolo Ardoino said a “cryptocurrency exchange is willing to swap part of
its Tethers from TRC20 to ERC20.” While Ardoino did not name the exchange The
Block suggested it is “most likely Binance.”
The chain swap will see
Tether’s USDT supply on Ethereum increase to 8.5 billion, while the supply on
TRON will decrease to 3.3 billion. There are over 13 billion USDT tokens in circulation,
spread across eight blockchains: Omni, OMG Network, TRON, Algorand, Ethereum,
EOS, Bitcoin Cash, and the Liquid Network.
